EMI Shares Rise As Buyout Seems Close

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