Polygram: The Upbeat
Two British music makers are topping the takeover charts of such prospective buyers as Seagram, Viacom, and Disney. Philips Electronics' May 6 announcement that it would consider selling its 75% stake in PolyGram, the world's largest music company, sent the market into a frenzy. Just one week earlier, EMI Group, most recently known for launching the Spice Girls, had confirmed that it was in talks with a prospective buyer. PolyGram's stock jumped 5 9/16% on the news, to 49 3/8 on May 6.