Warner still in the hunt for EMI


The official bidding is over, but Warner Music Group says it is still looking at a topper bid to snatch EMI Group away from the UK private equity firm Terra Firma (5/22/07 RBR #100).

"Warner Music Group Corp. confirms that it continues actively to consider an offer for EMI Group plc. Such an offer would be pre-conditional on appropriate anti-trust clearances being obtained (or the pre-conditions waived) but not subject to any other pre-condition. A further announcement will be made in due course. This announcement does not amount to a firm intention to make an offer or pre-conditional offer and accordingly there can be no certainty that any offer or pre-conditional offer will be made," WMG said in an announcement yesterday.

SmartMedia observation: Time's a wastin'. June 27th is the deadline for shareholder acceptances of Terra Firma's bid of  4.7 billion bucks.