WMG Hires Veteran Wall St. Banker To Assess EMI Bid
July 11, 2007 at 5:54 AM (PT)
WARNER MUSIC GROUP has hired the veteran WALL STREET banker ALAN MNUCHIN to help assess a GBP2.3 billion bid for EMI GROUP PLC, LONDON's DAILY TELEGRAPH reports. MNUCHIN, who runs the advisory firm AGM PARTNERS and has worked on some of the U.S. media industry's biggest deals of recent years, is working alongside WARNER's principal advisers at GOLDMAN SACHS and LEHMAN BROTHERS, the report says, citing people close to the company.
WARNER, which has completed its due diligence on EMI, remains undecided about whether to proceed with a bid to counter TERRA FIRMA CAPITAL PARTNERS LTD.'s friendly takeover, the report says.