Warner Music Group Proposes Acquisition of Believe at €17 Per Share

Warner Music Group's bid to acquire Believe surpasses earlier offer by Believe's CEO and investment consortium, aiming to enhance strategic support and financial stability.

• Warner Music Group (WMG) has expressed interest in acquiring French digital music company Believe, proposing a bid of at least €17 per share.
• The bid values Believe at approximately €1.65 billion, outbidding an earlier offer by Believe's CEO and a consortium of investment firms.
• WMG's offer aims to provide Believe with strategic support and financial stability, including expansion into new geographies.
• Believe's shares rose more than 5% following the announcement of WMG's potential offer, while WMG's stock experienced a nearly 5% decline.
• WMG is currently awaiting due diligence information from Believe to possibly submit a formal proposal.

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