SoftBank Reportedly Offered To Buy Universal Music For $8.5 Billion
SoftBank CEO Masayoshi Son oversaw the $21.6 billion acquisition of Sprint. That was not the only big deal that Son wanted to put together. According to The Financial Times, SoftBank also reportedly made an $8.5 billion cash offer to buyout Universal Music Group.
Vivendi allegedly turned down the deal because they felt like Universal Music Group is essential to their future, even though the offer was $2-$3 billion more than Universal Music Group’s valuation.
Universal Music Group acquired EMI Music for $1.9 billion two years ago. The offer took place around 3 months ago.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry