EMI Accepts $4.7 Billion Bid From Terra Firma

The EMI Group, the British music giant that has drawn heavy takeover interest in the last year, said Monday it had agreed to be bought by Terra Firma, the private equity firm led by the financier Guy Hands. EMI, whose recent talks with another buyout firm, Permira, ended without a deal, said it was recommending Terra Firma’s offer to its shareholders. The bid values EMI at 2.4 billion pounds ($4.7 billion).

Story: http://dealbook.blogs.nytimes.com/2007/05/21/emi-accepts-47-billion-offer-from-terra-firma/

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