Vivendi rejects MGM bid for entertainment business

Posted Thursday, July 17, 2003 5:23 AM | Contributed by Jeff

Vivendi Universal has rejected a proposed $11.5 billion bid for its entertainment business from Hollywood studio MGM that was conditional on getting a closer look at its books, sources close to the auction said on Wednesday.

Read more from Reuters via MSNBC.

Thursday, July 17, 2003 8:56 AM
Hmmmm....if they are selling it, why be so secretive? Unless the info was closely tied in with the rest of the business...but didn't they treat the arm as a separate entity?

I could see a company like MGM bidding not to win, but to get a look at the books. Then again, they offered extra money. Some piece of information is missing here.

"SOME people have NO class!" - Mom from the Whizzer queue

Thursday, July 17, 2003 11:07 AM
Hmm....11.5 billion dollars not enough. Exactly, how much are they looking for?

Deja Vu is down again. For some reason I feel like I already experienced this......

Thursday, July 17, 2003 4:54 PM
$11.7 Billion Most likely...

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