antiMUSIC - EMI Bid Rejected

EMI Bid Rejected

12/15/06
. (FMQB) EMI Group said it has ceased discussions with Permira Advisers regarding its takeover approach because the two sides could not agree on a price, according to Bloomberg News. Earlier this month, EMI turned down a bid from Permira that was valued at �2.5 billion ($4.93 billion) because it was seeking a better offer. Shares of EMI had their biggest decline in almost two years after the company said, "The EMI Board has not received an offer that fully reflects the prospects for and value of the company and which it could recommend to shareholders."[see full story for more] - Click here for the Full Story

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