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Thursday, September 22, 2011

EMI Music Bidding Continues

MEANWHILE, BACK AT EMI: Access Industries and WMG top dog Len Blavatnik is believed to be the only bidder for the entire company, though he’s rumored to be trying to make a deal with BMG for one of the pubcos should his bid be accepted. According to insiders, Ron Perelman wants records, but would buy all of EMI if the price was right. And price appears to be the primary sticking point at the moment, as Citi is reportedly pushing for close to $4b, while most of the bidders believe EMI is worth closer to $3b. Meanwhile, Roger Faxon continues in his efforts to find a white knight willing to keep the company intact. Stay tuned. (9/22p)

 
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