Facing the music
Would-be investors in EMI’s forthcoming €425 million issue were left confused and disgruntled when, right in the middle of the issue’sroadshow, news emerged that EMI was eyeing up a merger with Warner Music. Hardeep Dhillon reports
Prospective investors in EMI were getting twitchy. A short time before the planned launch of the music group’s €425 million 10-year bond on September 29, rumours of a merger were swirling round the market, making investors increasingly uneasy about the future prospects of the company.
Then, just as the roadshow was warming up and after the company had already pitched to some investors in the UK, news broke over the weekend of September 20 that EMI was eyeing up Warner Music, the recorded music
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