Corvus Capital Inc
23 May 2007
23 May 2007
Corvus Capital Inc.
Corvus Capital does not intend to make an offer for EMI Group plc
Following press speculation Corvus Capital confirms that it has actively
considered making an offer for EMI Group plc ('EMI') and had access to the
necessary funding to do so.
However, given the announcement made on 21 May 2007 that Terra Firma is to make
a recommended offer for EMI, Corvus Capital now confirms that it has no
intention to make an offer for EMI.
For the purposes of Rule 2.8 and other relevant provisions of The City Code on
Takeovers and Mergers ('City Code'), Corvus reserves the right to announce an
offer or possible offer or make or participate in an offer or possible offer for
EMI and/or take any other action which would otherwise be restricted under Rule
2.8 of the City Code within the next six months, in the event that there is a
material change in circumstances or any of the following events occur: (i) the
recommended offer by Terra Firma for EMI fails or is withdrawn or ceases to be
recommended by the Board of EMI; or (ii) there is an announcement by a third
party other than Terra Firma of a firm intention to make an offer (as defined in
the City Code) for EMI; or (iii) EMI announces a 'whitewash' proposal (as
described in Note 1 of the Notes on Dispensations from Rule 9 of the City Code)
or a reverse takeover.
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