EMI To Up WMG Bid. Counteroffer Seen Possible.
The UK press is reporting that EMI is going to up it’s offer for the Warner Music Group from $4.23 million to $4.4 million also upping the percentage of cash vs. stock in the increased bid. This moves appears to be designed to satisfy the private equity investors who hold 3/4 of WMG’s stock. (Forbes).
One respected British financial journalist is convinced the WMG may actually make a counteroffer soon to take over EMI.(Telegraph)