KKR Made $50 Billion Takeover Bid For Vivendi
November 6, 2006 at 5:41 AM (PT)
According to the L.A. TIMES, VIVENDI has disclosed that investment group KOHLBERG KRAVIS ROBERTS recently made an unsolicited but "friendly" takeover offer for $50 billion.
The offer, which was rejected, did not include breaking up VIVENDI, which owns UNIVERSAL MUSIC GROUP and accounts for approximately 35% of the $33 billion worldwide music marketplace. At the close of business on FRIDAY (11/3), VIVENDI's market value was was $44.5 billion, based on its stock price.