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Warner Music Shareholders Approve Merger Agreement
Warner Music Shareholders Approve Merger Agreement
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Warner Music Shareholders Approve Merger Agreement
Warner Music Group (NYSE:WMG) announced that at a special meeting of stockholders held earlier. Stockholders voted to adopt the previously announced merger agreement with Airplanes Music LLC and Airplanes Merger Sub, Inc., affiliates of Access Industries.Under the terms of the Merger Agreement, the Company’s stockholders will receive $8.25 per share in cash at the closing of the transaction. The Company currently expects the merger to be completed in the third calendar quarter of 2011, although the Company cannot assure completion by any particular date, if at all.Warner Music has a potential upside of 0.4% based on a current price of $8.22 and an average consensus analyst price target of $8.25.Warner Music is currently above its 50-day moving average (MA) of $8.07 and above its 200-day of $6.22.
Channel: Voxant Newsroom
Category: Business
Video Length: 0
Date Found: July 06, 2011
Date Produced: July 06, 2011
View Count: 0
 
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