UK - EMI in defensive debt-piling move

EMI is seeking to pile more debt onto its books in an attempt to deter private equity bidders. The music publisher was targeted by Permira in late November, early December last year when its shares hovered around the 290p mark. Following a number of profit warnings, the company's share price stands at 224p today with sources suggesting a private equity firm may strike now to take advantage of the lower price. It is unclear whether Permira would resurrect its interest in the company.