Former EMI Music chief executive Jim Fifield is seeking to buy his former company in a move that could lead to a bidding war with rival Warner Music Group and private equity firm Terra Firma.
EMI said on Monday it had agreed a $4.77 billion (€3.54 billion) cash takeover from Terra Firma, but sources said that long-term suitor Warner Music continues to scrutinise financial data made available by EMI.
Mr Fifield said today that even though he is no longer aligned with former financial backer Corvus Capital over an EMI deal, he is still angling to make a bid.
Corvus announced on Wednesday that it was no longer interested.
It was reported earlier this week that Mr Fifield and Corvus wanted to make an offer for the group at 278 pence a share. It has since reported that he has received financial commitments from members of the Qatari royal family.
The newspaper reported Mr Fifield wanted to run EMI's recorded music division and sell its more reliable and cash-rich publishing assets to record executive Charles Koppelman and private equity firm GTCR Golder Rauner.