All you need is private equity: Beatles label EMI bought by Terra Firma
AFP, August, 2007
 | Content provided in partnership with |  |
LONDON (AFP) — Private equity firm Terra Firma said Wednesday it had won control of British music publisher EMI, which is home to The Beatles and Coldplay, following a lengthy takeover tussle with US group Warner Music.
Terra Firma's bid valued EMI -- which is the world's third-biggest music company -- at 3.2 billion pounds (4.8 billion euros, 6.5 billion dollars) including debt.
The private equity house, which is headed by chief executive Guy Hands, said Wednesday it had secured 90.27 percent of the shares in EMI.
"The offer is now unconditional as to acceptances," Terra Firma said in a statement.
- Most Popular Articles in News
- The Ten Best Laptop bags
- Tata plans cheapest-ever car for Indian market
- GLOBALIZATION AND THE DEVELOPMENT OF UNDERDEVELOPMENT OF THE THIRD WORLD
- Corn is good for you; Corn is not only a tasty treat, but also a cereal that ...
- THE 50 BEST STYLISH HANDBAGS TO CARRY
- More »
Under British rules, a takeover is declared unconditional once 90 percent support is won, meaning that minority shareholders can be forced to sell their stakes.
The takeover offer, which was pitched at 265 pence per share, was backed by management at EMI, whose roster ...
Find Research Guides for:
Find Featured Titles for: Business
- Academy of Marketing Science Review
- Accounting Historians Journal, The
- Accounting History
- AgExporter
- Agricultural Research
- Agricultural and Resource Economics Review
- Air Force Comptroller
- Air Safety Week
- Airline Industry Information
- American Demographics
- American Journal of Potato Research
- Architectural Review, The
- Asian Economic News
- Entrepreneur