Citi Exec Denies Giving EMI Buyer M&A Tips In Deal

Law360, New York (October 26, 2010, 3:42 PM EDT) -- Citigroup Inc. executive David Wormsley testified Tuesday in a trial over the sale of EMI Group Ltd. that he did not give buyer Terra Firma Capital Partners Ltd.'s founder Guy Hands "substantive" mergers and acquisitions advice in the deal.

Under questioning from Terra Firma lawyer David Boies, of Boies Schiller & Flexner LLP, Wormsley told a jury in the U.S. District Court for the Southern District of New York that he gave only financing-related advice to Hands amid the bidding process over the music company....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.