M & A wrap: Who’s buying EMI?
EMI, once the glamorous monarch of the British music industry, is about to be sold by Citigroup. Reuters lays out EMI’s future and who is likely to walk away with the company’s recorded music and song catalog.
Despite all the rumored interest in Yahoo, progress on a deal has hit a brick wall mainly due to the company’s lack of strategy and restrictive confidentiality agreement, people familiar with the situation said.
“Yahoo has been exploring a potentially tax-free way to dispose of its roughly 40% stake in the Chinese e-commerce company Alibaba, according to people familiar with the matter,” reports WSJ.
Hewlett-Packard ditched a plan to spin off its personal computers unit, a month after the ouster of CEO Leo Apotheker whose idea would have cost billions of dollars in expenses and lost business.
“HP has been a comedy of errors, and selling a third of their revenue right now is probably not sound,” analyst Brian Marshall told Bloomberg.
Is Groupon a buy at a $10 billion market cap? Felix Salmon finds justification for the price, “if the business goes according to plan.”