The dispute between Terra Firma and Citigroup over the buyout house's £4bn acquisition of EMI Group can proceed to trial, a US judge has ruled. The private equity giant has alleged that Citi inflated the value of EMI by not revealing that rival bidder Cerberus had withdrawn from the auction. Terra Firma claims that this was a key factor in its bid of 265p a share for the music publishing company.
September 16, 2010 at 11:21 AM
1 minute read
The original version of this story was published on Legalweek
The dispute between Terra Firma and Citigroup over the buyout house’s £4bn acquisition of EMI Group can proceed to trial, a US judge has ruled.
The private equity giant has alleged that Citi inflated the value of EMI by not revealing that rival bidder Cerberus had withdrawn from the auction. Terra Firma claims that this was a key factor in its bid of 265p a share for the music publishing company.
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