More city news, and shares in EMI Music rose a little yesterday following gossip that management at the London based major are preparing an offer to take the group private. Shares galore exchanged hands on the London Stock Exchange as a result, with stock price rising 11.5p to 281.75p. Some formal statement is expected from EMI this week. It's not surprising that EMI are keen to go private, given those rumours that Warner chief Edgar Bronfmann Jnr was courting their shareholders re staging a hostile takeover, despite insistence by the EMI board that if any EMI Warner joint venture is going to happen, it will be EMI taking over Bronfmann's company.
Nov 8, 2006
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1 min read
EMI shares rise after talk of going private
EMI shares rose on London Stock Exchange following rumours that EMI management are preparing an offer to take the group private, with a formal statement expected this week.