EMI deadline is extended again
EmptyEuropean private-equity firm Terra Firma again has extended the deadline on its £2.4 billion ($4.8 billion) acquisition bid for EMI Group Plc., this time to July 12.
Wednesday marked the end of the first extended deadline. Terra Firma's original cash bid was announced May 21.
Terra Firma has received about 3.56% of EMI's issued shares and needs 90% to seal the deal. A spokesperson had said that the firm was willing to keep lengthening the deadline for full acceptance until July 26.
Juliana Koranteng is a contributor to Billboard.