Vivendi gets offer of takeover
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Vivendi, the French music and telecommunications giant, said Saturday that it had received an unsolicited but “friendly” takeover offer from Kohlberg Kravis Roberts & Co., the big U.S. buyout firm.
A review of the offer, whose financial terms weren’t disclosed but included a plan not to break up Vivendi, did not result in a deal and the talks have ended, the Paris-based company said in a prepared statement.
The KKR offer is at least the second this year for Vivendi. In May, Vivendi rejected a plan from Norwegian investor Alexander Vik to break it apart.
Vivendi’s Universal Music Group is the industry’s largest, with about 25% of the $33-billion global music market. Its artists include U2, Mariah Carey, Kanye West and the Black Eyed Peas.
The company also owns French cellphone service provider SFR.
Vivendi has a market value of $44.5 billion, based on Friday’s closing stock price.
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