MGM plans to raise bid for Vivendi's US assets.

Financial News, July, 2003

Metro-Goldwyn-Mayer threw down the gauntlet to Vivendi Universal, raising its bid for Vivendi's film and TV assets but threatening to walk away from the auction unless the French conglomerate agreed to provide more detailed information about the businesses, people familiar with the matter say.After making a higher-than-expected $11.2bn offer in the first round of bidding last month, MGM has emerged as a serious contender for the assets, which include Universal Studios and USA cable network.

MGM's high-stakes move came in a letter from its CEO Alex Yemenidjian Monday, in which the company proposed it would raise its offer by $300m to $11.5bn, on condition a range of information it has requested is made available by 5 p.m. Monday. Otherwise, Yemenidjian said MGM...

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