Blavatnik's Access wins Warner Music for $3.3 bln

Access Industries is buying Warner Music Group in a $3.3 billion deal. Access, which is paying $8.25 a share, beat out a bid from Tom and Alec Gores' Platinum Equity/Gores Group. Access also trumped an offer from Sony whcih partnered with Guggenheim Partners and investor Ron Perelman. Goldman Sachs and AGM Partners advised Warner, while Credit Suisse and UBS served as financial advisors to Access.

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