Bidder gives EMI shareholders more time

Private equity firm Terra Firma today gave EMI shareholders an extra week to accept its £2.4bn (€3.5bn) offer for the troubled music label after receiving support from less than 4% of investors.

Shareholders in EMI – home to stars including Lily Allen and Robbie Williams - now have until July 19 to back the takeover bid after Terra Firma extended the deadline for acceptances for the second time.