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EMI Confirms Takeover Approach

emi.jpgBritish music group EMI said it has received an informal takeover approach but did not name the suitor.

 

“EMI announces that it has, this morning, received a preliminary approach for the company which may or may not lead to an offer being made,” the music publisher said in an official statement to the London Stock Exchange on Tuesday.

 

EMI, whose artists include Coldplay, David Bowie and Janet Jackson, added that a further announcement would be made if required.

The Financial Times reported Tuesday that US investment group Kohlberg Kravis Roberts and investment bank Goldman Sachs were in talks over a possible EMI takeover worth about 2.5 billion pounds (3.7 billion euros, 4.9 billion dollars).

 

Earlier this year, EMI put a halt to its pursuit of US peer Warner Music, which itself had looked to buy EMI.

 

Source: Various

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