Debevoise Aids Access In $3.3 Warner Music Buy

Law360, New York (May 6, 2011, 1:10 PM EDT) -- Access Industries Inc., an industrial group owned by Russian-born billionaire Len Blavatnik, on Friday announced an agreement to purchase storied music label Warner Music Group Corp. in an all-cash deal valued at $3.3 billion.

Warner Music shareholders will receive $8.25 for each share of stock upon the closing of the transaction, which is expected in the third calendar quarter of 2011. The $8.25 per share price represents a 34.4 percent premium over the volume-weighted average share price of $6.14 over the past six months, the two...
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