EMI Willing To Kiss More Frogs Before Finding Her Prince
According to the Financial Times of London, EMI is in talks with several private equity firms including One Equity Partners, a US group affiliated with JPMorgan Chase. EMI wants to make sure that it gets in as many dates as possible before getting hitched in the arranged marriage to Warner. Apparently, Warner’s reported $6 billion offer for a Vegas blowout in the Elvis Chapel wasn’t enticing enough for EMI to elope.
British gossipers have reported that no firm offers have been made yet, as the private equity suitors want to “conduct extensive due diligence on EMI’s operations after it issued two profit warnings in quick succession since the start of the year.”