Deals
Gores Brothers Said to Weigh Increasing Bid for Warner Music
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Tom and Alec Gores are considering a revised bid for Warner Music Group Corp., said a person with knowledge of the situation, challenging the record company’s agreement to be bought for $3.3 billion.
The brothers, private-equity billionaires, are weighing an offer of $8.35 to $8.50 a share, said the person, who asked not to be identified because the deliberations are private. Warner Music agreed today to be bought for $8.25 a share, or $1.3 billion plus assumed debt, by Len Blavatnik’s Access Industries.