Former EMI chief Jim Fifield is interested in potentially making an offer for EMI Group plc.
In a statement issued to the London Stock Exchange by Corvus Capital, the investment management firm said it had been working with Fifield on a bid before Corvus pulled out of the process on Wednesday.
In the statement, Fifield said he was not held to the terms of that announcement, and that he “therefore wishes to confirm that he remains interested in potentially making an offer for EMI.”
The statement adds, “There is no certainty that an offer will be made or as to the terms on which any offer might be made.”
It’s not the first time Fifield has show interest in controlling EMI. In 2003, reports circulated that the executive had been in talks with private equity groups Permira and BC Partners about a possible takeover bid for the major. Fifield exited as president/CEO of EMI in 1998.
Industry observers await the next move involving EMI after its board of directors on Monday recommended a cash offer for the company from Guy Hands’ European private equity firm Terra Firma, for 265 pence per share.
Corvus was one of a handful of suitors hovering over the music giant, including venture capitalists Fortress, Cerberus, One Equity and rival major Warner Music Group.
