EMI says rejected bid proposal from Warner Music
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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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Warner Music Group's  decision on whether to counter bid for British rival EMI Group  has become a tortuously long one, as the No. 4 player grapples with exposing itself further to recorded music amid a faster-than-expected decline in the industry.
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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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EMI Group, which recently outlined a painful restructuring plan, has made a bid for independent music label Chrysalis Group PLC, a newspaper reported Friday.
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Warner Music Group Corp. said  Wednesday its &#36;4.6 billion (2.5 billion pounds) counter-bid for  its larger rival EMI Group has been rejected.
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EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline yesterday with a possible new takeover bid by a former suitor, Warner Music Group.
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EMI, the world's third-biggest music company, whose artists include The Beatles, said Tuesday it would slash 1,500-2,000 jobs worldwide following its takeover by a British private equity firm.
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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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The chief executive of Warner Music  Group Corp. is paving the way for a new bid for EMI Group Plc  by trumpeting the benefits of a merger with the firm's  shareholders, the Times reported on Wednesday.
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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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EMI is said to have discussed proposals to sell unprotected files through an array of digital retailers, including Apple, Microsoft, Real Networks and Yahoo.
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Terra Firma deal in the bag? Warner Music Group (WMG) has said it will not be making an offer to buy-out its rival EMI.â¦
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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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The chief executive of Warner Music   Group Corp. is paving the way for a new bid for EMI Group Plc   by trumpeting the benefits of a merger with the firm's   shareholders, the Times reported on Wednesday.
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Warner Music Group&#39;s decision on  whether to counter bid for British rival EMI Group has become a  tortuously long one, as the No. 4 player grapples with exposing  itself further to recorded music amid a faster-than-expected  decline in the industry.
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Struggling music company EMI Group PLC, beset by profit warnings and an accounting scandal in Brazil, was thrown a potential lifeline Tuesday with a possible new takeover bid by former suitor Warner Music Group.