Corvus rules out EMI bid


Corvus Capital confirmed that it had looked at making a bid for EMI Group, but has decided against it. That means that the deal announced to sell the record company to Terra Firma for approximately 4.7 billion (5/22/07 RBR #100) stands, barring someone else stepping in with a topper. The New York Post had reported that former EMI CEO Jim Fifield had been working with Corvus on a post-auction bid which would have topped the deal with the Terra Firma private equity group.