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Former EMI CEO readying rival takeover bid

Former EMI Group  Chief Executive Jim Fifield, with the financial backing of private equity firm Corvus Capital, is in the final stages of preparing a 278 pence a share offer for the world's third largest music company, the New York Post reported on Wednesday.
/ Source: Reuters

Former EMI Group Chief Executive Jim Fifield, with the financial backing of private equity firm Corvus Capital, is in the final stages of preparing a 278 pence a share offer for the world's third largest music company, the New York Post reported on Wednesday.

The newspaper cited three unnamed sources with knowledge of the offer.

EMI's board recommended a 265 pence a share offer from private equity firm Terra Firma on Monday.