EMI Accepts British Equity Firm’s Buyout Offer

noah | May 21, 2007 2:19 am

The long mystery of who, exactly, would pony up for the EMI Group may finally be solved. The BBC is reporting that the label has agreed to be bought by a European equity firm, Terra Firma, in a deal valued at $6.3 billion (£3.2 billion), including debts. The buyout still has to be approved by the company’s shareholders; if it is, Terra Firma could have the keys to EMI’s executive washroom in as soon as a few months.

Music giant EMI agrees takeover [BBC]