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EMI stock price lifts in bid fever

Private equity group stalks U.K. music giant

EMI’s stock price surged after the music giant disclosed that a number of parties are interested in buying the company.

Speculation is linking JP Morgan Chase and Co.’s private equity firm One Equity Partners as a potential buyer.

EMI’s share price rose 8.24% to close at 246.25 pence ($4.93).

In a statement to the London stock market EMI said: “Further to recent speculation, EMI Group plc confirms that it has received a number of preliminary indications of interest to acquire the company. There can be no certainty that any offer will ultimately be made.”

EMI rejected a £2.1 billion ($4.2 billion) takeover proposal by rival Warner Music two months ago.

While EMI declined to elaborate on the talks it has had with other potential buyers, the Financial Times claims One Equity Partners is lining up a $6 billion offer.

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