- EMIÂ Ends Takeover Discussions; Shares Drop
EMI ended talks to be acquired by Permira Advisers LLP after failing to agree on a price, the second time this year that takeover plans collapsed.Â The approach was EMI’s second takeover advance this year. EMI and Warner Music Group Corp. each offered about $4.6 billion for each other in June. Shares of EMI had their biggest decline in almost two years
after the London-based company said it didn’t get a bid “that fully reflects the prospects for and value of the company.” (Zimri Smith)
“EMI can just about survive on its own, but it’s not a great growth story,” said Alex Degroote, an analyst at London’s Panmure Gordon.