New York – Dimensional Associates, the private equity arm of
JDS Capital that owns digital music service eMusic, has sweetened its bid to
acquire the rest of independent music distributor The Orchard (NASD: ORCD) it does not
already own, PaidContent reported, citing a regulatory filing.
The initial
offer of $1.68 per share was first raised to $1.84 and now stands at $2 per
share — an offer now under review by The Orchard.
Dimensional Associates
already owns a majority stake in The Orchard, and actually owned the company outright
before The Orchard merged with Digital Music Group Inc. in 2007.
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