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EMI, one of the big four record labels, has rejected an approach made by Warner Music Group, saying the offer was too low and format of the bid too cumbersome. "WMG’s proposal was considered by the Board which concluded that it is not in the best interests of EMI shareholders to entertain a pre-conditional offer which would entail prolonged regulatory uncertainty and unacceptable operational risk at a critical time for the Company," the music group said in a statement
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