Terra Firma Confirms EMI Bid Setting June 27th Deadline. Now It Gets Interesting...

Private equity firm Terra Firma has officially confirmed its 265 pence per share cash bid totaling 2.4 billion pounds ($4.7 billion) for EMI effectively setting a June 27th deadline for any counter-offers.

The action could get hot over the next four weeks with former EMI CEO Jim Fifield still rounding up the capital for a bid and WMG reportedly considering a 280 pence per share offer. Other players may also still emerge.

Another scenario has WMG buying just the record division from Terra Firma after the purchase leaving invsetors with the lucrative publishing division.  Investor Charles Koppelman has also expressed interest in the publishing  division if  Fifield is the winning bidder.