British music company EMI Group plc denied yesterday that it was in merger or takeover discussions with media tycoon Rupert Murdoch.
The denial followed a Mail on Sunday newspaper report which said Murdoch was planning a £4.2 billion sterling ($6.89-billion) bid for the UK group.
EMI said in a prepared statement to Reuters and other news agencies that there had been no change in the situation between the group and Murdoch's News Corp since it denied the two companies were in talks last November.
According to the report, industry sources said Murdoch planned to bid around 520p per share for EMI but might be prepared to go as high as 560p.
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EMI shares closed at 450 1/2 on Friday.
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