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Universal to Acquire EMusic.com for $24 Million
Universal Music Group agreed to acquire digital music service provider EMusic.com (EMUS Quote) in a cash deal valued at about $24 million.
Universal, a unit of Vivendi (V Quote), offered 57 cents for each share of EMusic.com. 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. ...
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