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Universal to Acquire for $24 Million

Universal Music Group agreed to acquire digital music service provider (EMUS) in a cash deal valued at about $24 million.

Universal, a unit of Vivendi (V - Get Report), offered 57 cents for each share of Shares of EMusic rose 12 cents to 54 cents on the news. The 52-week high is $5.18, while the low for the last year is 15 cents.

The American depositary shares of Vivendi rose $1.25, or 2.1%, to $61.45 in recent New York Stock Exchange trading.

In addition to having a subscription service that allows users to download music from the Internet, operates music-oriented Web sites and

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V $79.84 0.00%
AAPL $117.81 0.00%
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