Warner out of EMI acquisition race, say reports
Monday, Oct 31st 2011 at 2:21PMThe Financial Times, New York Post and others suggest that the withdrawal is due to the Blavatnik camp refusing to increase their final offer of $1.5 billion to EMI owners Citigroup.
The future of EMI would now appear to be in the balance. Warner was thought to be the last man standing in the race for its rival's recorded music library after Universal reportedly withdrew its interest last week.
A third bid is understood to have come from Ron Perelman's ...
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