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Thursday, May 12, 2011

Gores Back in the Game?

GORES OFFER MORE FOR WMG: Alec and Tom Gores’ private equity firms, The Gores Group and Platinum Equity, have reportedly upped their bid for Warner Music Group to $8.50 a share, for a total of $3.5 billion, topping Len Blavatnik’s previous offer of $8.25 and $3.3 billion. They have also reportedly agreed to pick up the “break-up” fee of $60-$70 million on top of the sale price. Is it too little too late, or are the brothers back in the game? (5/13p)


 
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