EMI: Risky business

EMI is changing its tune. Two months ago, EMI rejected a 260p a share indicative offer from US rival Warner Music. The UK music group also refused to open its books to Warner, for fear of revealing sensitive information to a competitor. But EMI boss Eric Nicoli has finally decided to invite Warner into its data room. Why the change of heart? One thing that has changed is that private equity firms have been taking a look at EMI too. Buyout groups including Cerberus, Fortress and One Equity have ...