Fresh Warner-EMI Rumours As CEO Visits London Shareholders

There are renewed reports that Warner Music is preparing a bid for EMI after CEO Edgar Bronfman met with UK shareholders in London earlier this month. EMI’s stock rose by 7.1 percent today after the reports. Bronfman met seven percent shareholder Fidelity, Aberdeen Asset Management and held a group hedge fund session. The Times says that Bronfman “remained surprisingly focused on the possibility of a deal with EMI.” This follows a string of takeover attempts this summer with both sides rejecting two bids. Any takeover is unlikely until the Sony-BMG merger receives EU regulatory approval, but the speculation is that Warner will then come back with a new bid for EMI.
Related: EMI Won’t Pursue Warner Acquisition … For Now
Why Warner Doesn’t Need EMI

This article originally appeared in MediaGuardian.

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