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The multibillion-dollar auction for Vivendi Universal's film, television and theme park operations was upended Tuesday when the suitor with the most cash on the table, Metro-Goldwyn-Mayer Inc., abruptly walked away, making it harder for the French conglomerate to ignite a bidding war. Vivendi execs says their $11.5 billion bid was $2.5 billion too low.
Read more from The LA Times.