JAY Z's Bid for European Music Streaming Company gets Blocked

If you recall back in January, there were reports of JAY Z putting in a bid of $56 million dollars

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If you recall back in January, there were reports of JAY Z putting in a bid of $56 million dollars to acquire the European music streaming service Aspiro, but it appears that won’t be happening any time soon. Swedish newspaper Dagens Industri reports that JAY Z’s bid is being blocked by the company’s 10% minority shareholders. This after the fact JAY Z and Aspiro’s board of directors, agreed on the deal unanimously. Despite this setback, Hov still is in the running. The acceptance period for Jay Z’s offer ends next week (March 11), while shareholders are continuing talks to secure better terms, because they were unhappy with the original ones.

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