Friday, January 21, 2011

Warner Music Group Spikes On Buyout Speculation

Shares of Warner Music Group Corp. (NYSE: WMG) surged more than 23% on Friday after after the New York Times  reported that the company has hired Goldman Sachs to discuss a potential buyout of the company. Warner Music was approached by Kohlberg Kravis Roberts several weeks ago, Bloomberg said, citing a person with knowledge of the company’s plans. Warner Music’s board is also exploring whether to sell the company in pieces because the value of its publishing division, Warner/Chappell Music, isn’t reflected in the stock price, the person said. Stay tuned for more.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire