MGM sets bid deadline for Vivendi

13 April 2012

METRO-Goldwyn-Mayer has set a one-week deadline for Vivendi to provide more information if it is to get an improved offer for the company's US entertainment assets.

MGM said it would raise its all-cash bid by $300m (£184m) to $11.5bn, but only if detailed financial data is provided by next Monday, otherwise the offer would be withdrawn. MGM wants to examine the books of Vivendi Universal Entertainment, the joint venture that includes Universal Studios and Universal's theme parks and TV production company, as well as cable channels.

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