WHAT: Three months ago, Softbank, a Japanese Internet and telecommunications company, offered to buy Universal Music Group from Vivendi for $8.5 billion and was turned down, even though the valuation exceeded analysts’ expectations by $1 billion-$2 billion, it was revealed last week. The Softbank offer also surpassed the 7.6 times price of earnings before interest, taxes, depreciation and amortization that Citigroup realized through the separate sales of EMI Music Publishing and EMI recorded-music operations.

Subscribe to billboard biz to continue reading this article and thousands more.

Billboard.biz subscribers get:
  • 24/7 coverage of every genre and sector of the business with over 150 exclusive charts
  • Bulletin: Breaking stories, chart info and analysis sent directly to your inbox every weekday
  • Billboard Magazine iPad Edition: An enhanced version of the magazine with video, photo galleries and playable charts
  • Archives: A rich history of Billboard.biz articles and exclusive charts

Join now or Log In