Warner Music makes new EMI bid approach
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Warner Music Group has made a bid  approach for Britain's EMI despite uncertainty over whether any  deal would win regulatory approval, in the latest twist in a  seven-year tit-for-tat takeover battle.
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Earlier this month, Warner became the first major record label to ask MP3 blogs to play its music. The company's approach did not go as planned.
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Britain's EMI  said on Friday it had received a 260-pence-a-share cash takeover proposal from Warner Music Group  and rejected the plan, saying it was "not in the best interests" of its shareholders.
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EMI will have to sing its private equity financed tune.
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Warner Music decides not to make a rival bid for EMI, the British music firm which is set to be bought out by a private equity group.
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Warner Music says it has not yet ruled out making another bid for the iconic UK music business EMI Group.
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Warner Music Group  has made a bid approach for Britain's EMI  despite uncertainty over whether any deal would win regulatory approval, in the latest twist in a seven-year tit-for-tat takeover battle.
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LONDON -- The long courtship between EMI Group PLC and Warner Music Group is on again. EMI confirmed Tuesday that it had received an approach from Warner about a possible bid.
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EMI, the world's third largest record label, has officially rejected a $4.1 billion takeover offer from the world's fourth largest label, Warner Music. EMI on Friday held a board meeting to discuss the "non-binding proposal" and decided it was not good for shareholders.
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Warner Music Group said on Wednesday any takeover offer for Britain's EMI Group Plc would probably all be in cash, briefly boosting the London-based company's shares.
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Former EMI Group Plc  Chief Executive Jim Fifield is interested in potentially making an offer for the world's third biggest music company, he said on Friday.
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Former EMI Group Plc Chief Executive Jim  Fifield is interested in potentially making an offer for the  world&#39;s third biggest music company, he said on Friday.
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U.S. Warner Music Group  has bid  2.5 billion pounds (&#36;4.6 billion) for Britain&#039;s EMI Group Plc   in an attempt to take control of the company that has  been pursuing it, the Financial Times said on Wednesday.
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EMI said Warner Musicâs cash offer was not in the best interests of shareholders and placed too low a value on the company.
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Warner Music Group said on Wednesday  it is hunting for a new chief executive for its music  publishing unit, in a move likely to rekindle speculation of a  partnership with the head of EMI Publishing.
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Music companies Sony BMG and EMI Music Publishing have entered into an alliance to introduce new digital products in the US and Canada.
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Apple and EMI's agreement to offer DRM-free music tracks is unlikely to be threatened by the record label's changing ownership. In fact, say some analysts, the choice may have been a demonstration to potential investors of the company's forward-thinking ways.