Warners Music Approaches EMI Re: Merger

[DudeAsInCool]

LONDON (Reuters) - Warner Music Group has approached Britain's EMI about a possible bid despite uncertainty over whether it would win regulatory approval, in the latest twist in a seven-year tit-for-tat takeover battle.

Warner said it saw a strategic, commercial and financial logic to a deal and had made the move after gaining the support of Impala, the trade group for independent music labels which has previously challenged consolidation in the industry.

EMI said there was currently no proposal for the board to consider and no certainty that there would be one, but its shares still rose 8.4 percent to close at 240 pence. Warner's shares were up 6.1 percent at $19.37.

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[Shawn]

That's just what consumers are praying for; further amalgamation.

[Kooperman]

the heavier they are, the faster they sink...