LONDON (CelebrityAccess MediaWire) — He happened to be in the area so WMG's CEO so Edgar Bronfman Jr. dropped in for a chat with representatives of EMI's institutional investors last month. The visit was enough to galvanize investors, pushing shares up almost 8% on news that EMI might be considering a takeover offer from Warner.
During the chat, reportedly assured investors that the merger would be approved by European Commission regulatory officials but he did not go into details Forbes reported.
The talks of a merger have been in circulation since May but little apparent progress had been made in the $4.6 billion deal until this most recent development. – CelebrityAccess Staff Writers