EMI Bidders Line Up

LET THE BIDDING BEGIN: With the deadline for EMI bids this Thursday, KKR-backed BMG Rights Management officially submitted its bid for the music group last Friday, according to the N.Y. Post. The five other parties expected to submit bids include Warner Music Group, Sony Corp., Universal Music Group, along with private equity firms Gores Group and Ron Perelman’s MacAndrews & Forbes. According to Reuters, three banks—Goldman Sachs, Credit Suisse and UBS—have said they would work to help finance a deal. EMI's value has been put at between $2.3 billion and $2.7 billion, while others say it's comparable with the $3.3 billion Warner fetched. (7/26a)