The UK Times call is "the deal of the decade". EMI Group shares climbed after
the Wall Street Journal reported this morning that the world’s third-largest record label may be close to a deal with capital
investment firm Permira.
Yesterday we reported that a number of EMI executives had been called back to London and that cost cutting measures were rumored. Today shares rose 3.2% bringing this year’s gain to 22% and giving the company a market value of 2.37 billion pounds or $4.63
billion. The deal isn’t done and could still fall apart, the
Journal said. Other private-equity groups could also join
Permira or bid against it according to the newspaper.
Sources: Bloomberg , Monsters & Critics, Reuters
