EMI Moves Into Full Sale Mode
May 18, 2007 at 5:45 AM (PT)
With indications pointing toward the EUROPEAN UNION's likely approval of both the SONY BMG merger and UNIVERSAL MUSIC GROUP's purchase of BMG MUSIC PUBLISHING, LONDON-based EMI GROUP has moved into full sale mode, writes THE NEW YORK POST.
EMI Chairman JOHN GILDERSLEEVE has opened up a data room at investment bank GREENHILL & CO.'s offices and has asked potential bidders to submit firm offers by MAY 23 -- the day EMI is set to report financial results for the fiscal year ending MARCH 31.
DEUTSCHE BANK and CITIGROUP are advising EMI boss ERIC NICOLI on the deal, but sources said GILDERSLEEVE and GREENHILL are driving the process.