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Warner bidders down to three
By CMU Editorial | Published on Monday 18 April 2011
According to Bloomberg the three parties still in the running to buy Warner Music are Ron Burkle’s Yucaipa, Len Blavatnik’s Access Industries, and billionaire brothers Tom and Alec Gores.
As previously reported, the music major’s board decided last week that they wanted to sell the company in its entirety to one buyer, rather than keeping hold of some of the group, or splitting it up and selling to two bidders.
It’s thought four or maybe five of the groups who submitted bids earlier this month put in an offer for the whole firm, but we know only three are still being considered. If the Bloomberg report is right, that means BMG’s bid for the whole of Warner has been rejected, as sources had already indicated late last week.
A report in the New York Times this weekend speculated that all three remaining bidders for Warner Music also has its eyes set on EMI, believing that the real opportunity here is to be the orchestrator of the long long long expected EMI Warner merger.
