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Latest Round Of Takeover Talk Ends For EMI; PE Firm Believed To Be Potential Bidder

An enigmatic announcement today from EMI that the preliminary approach by a potential bidder disclosed late last month has ended: “Discussions with the potential offeror have now ceased. 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.’ AP: “EMI did not name the potential bidder, but it was widely believed to be European private equity firm Permira Advisors Ltd.” Shares dropped more than 8 percent on the London Stock Exchange after the announcement.