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Monday, June 20, 2011

EMI for Sale

EMI FOR SALE: With Citigroup about to put EMI Music on the auction block, the music company sent out a press release this morning stating that “the Board of Directors… has initiated a process to explore and evaluate potential strategic alternatives, including a possible sale, recapitalisation (sic) or initial public offering of the Company.” In making the announcement, EMI stated “there can be no assurance that this strategic review process will result in a transaction. The Company does not intend to disclose developments with respect to its strategic review process unless and until its Board of Directors has approved a specific transaction.” For Faxon's interoffice memo about the impending sale, click here. Let the bidding begin. (6/20p)

 
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