Quantcast

Hands on the Stand

HANDS ON THE STAND: Terra Firma’s Guy Hands took the witness stand and testified that he would not have bid for EMI Music if not for the information provided by Citigroup banker David Wormsley that there was a rival offer he had to beat. The trial centers around three telephone conversations between Hands and Wormsley over the weekend of May 19-20, 2007, as a May 21 deadline to bid for EMI approached. Hands claimed that Wormsley told him at the time that private equity firm Cerberus Capital was making a rival bid for the music group, which was not the case. Terra Firma paid 265 pence per share for the music company after being told Cereberus would offer 262. “He told me not to play any games with the price,” said Hands. Wormsley is slated to tell his side of the story later in the trial, but Citigroup lawyers argued that the Terra Firma ruler decided to sue only after losing most of his investment in the ill-timed deal. (10/19p)

1 TRENDING TOPIC:
OLIVIA’S LANE
Talk about an overnight sensation. (4/20a)
UMG STANDS UP WITH MARLEYS ON TUFF GONG COLLECTIVE
Bob's daughter stirs it up. (4/20a)
CATALOG SONGS YTD:
"SUNFLOWER" AND
ALL THE REST
Post Malone, Fleetwood Mac and Juice WRLD on one chart. (4/20a)
HITS LIST: RULES
FOR ENTRY
It's exclusive, but you're invited to come on in. (4/20a)
BLACK MUSIC MONTH FOREVER
We've got a plan. (4/20a)
RHYTHM, BLUES AND THE FUTURE
The musical tapestry we know as R&B.
WHO'S NEXT?
Predicting the next big catalog deal.
JUST THE VAX, MA'AM
Once we all get vaccinated, how long before we can party?
WORLDWIDE GROOVE
How is globalization bringing far-flung territories into the musical mainstream?
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)