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Monday, May 2, 2011

Blavatnik Wants Quick Solution

MORE WMG AUCTION NEWS: Russian-born Len Blavatnik, whose Access Industries is one of two reported bidders for Warner Music Group, has reportedly told bankers he will withdraw his offer if the sale process dragged on too long without a decision, according to this morning's Wall Street Journal. That would leave only the Gores brothers in the derby. Reuters reported over the weekend that the sale could be complete by the end of this week. WMG stock climbed to $7.90 this morning with news of the possible sale. (5/2a)

 
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