Access Industries Completes Acquisition Of Warner Music Group
July 20, 2011 at 9:10 AM (PT)
It's officially official. WARNER MUSIC GROUP TODAY (7/20) announced the completion of its acquisition by AIRPLANES MUSIC, LLC, and AIRPLANES MERGER SUB, INC., affiliates of ACCESS INDUSTRIES, INC. for $8.25 per share in cash.
The transaction was approved by the Company’s stockholders at a special meeting of the stockholders held on JULY 6th (NET NEWS 7/6). The Company’s common stock will be de-listed from the NEW YORK STOCK EXCHANGE.
PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP acted as legal adviser to the Company. The independent directors of the Company’s Board of Directors were advised by an independent legal adviser, WACHTELL, LIPTON, ROSEN & KATZ. GOLDMAN, SACHS & CO. and AGM PARTNERS LLC acted as financial advisers to the Company. DEBEVOISE & PLIMPTON LLP acted as legal adviser to ACCESS.