Another Terra Firma deadline extension on EMI acquisition

Billboard and Music Week have reported that private equity types Terra Firma have extended the deadline for EMI shareholders to accept their takeover offer to 12 Jul - though I thought they'd already done that, but perhaps I dreamt it. It is the sort of thing I dream about. I am a very sad person. The interesting thing is that Billboard says a spokesperson for the equity firm has said it is actually willing to keep extending its deadline until 26 Jul before withdrawing its offer. They currently have a commitment to acquire about 3.56% of the major's shares following that much previously reported board approval for the takeover bid. The big institutional shareholders are expected to hang on to the last minute, still hopeful a Warner Music counterbid might kick off a bidding war and boost the asking price.