Warner Music Group/Access Industries
On May 6, 2011, Warner Music Group Corp. (NYSE: WMG) and Access Industries have entered a definitive merger agreement under which Access Industries will acquire WMG in an all-cash transaction of $8.25 per share, or total value of $3.3 billion.
WMG's Board of Directors approved the transaction and recommended that WMG's stockholders approve the transaction. In addition to stockholder approval, the transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.
Closing is expected in Q311.
Goldman, Sachs & Co. and AGM Partners LLC acted as financial advisors to WMG, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as the company's legal advisors. Credit Suisse and UBS Investment Bank acted as financial advisors to Access, and Debevoise & Plimpton LLP acted as Access' legal advisors.
WMG's Board of Directors approved the transaction and recommended that WMG's stockholders approve the transaction. In addition to stockholder approval, the transaction is subject to the satisfaction of customary closing conditions and regulatory approvals.
Closing is expected in Q311.
Goldman, Sachs & Co. and AGM Partners LLC acted as financial advisors to WMG, and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as the company's legal advisors. Credit Suisse and UBS Investment Bank acted as financial advisors to Access, and Debevoise & Plimpton LLP acted as Access' legal advisors.
