Believe announced on Thursday that its Board of Directors would give its opinion on the takeover bid filed in February by a group of investors by April 19.

This announcement comes as Warner Music Group indicated earlier this week that it had finally decided not to submit a firm offer to Believe, leaving the way clear for the consortium's project.

For the record, investment funds TCV and EQT, in association with Believe CEO Denis Ladegaillerie, plan to launch a takeover bid at a price of 15 euros per share, lower than the 17 euros per share that had been mooted by Warner.

The digital music specialist points out, however, that the operation remains subject to a reasoned opinion from the Board of Directors, including a positive recommendation.

Knowing that all parties involved are now aware of Warner's level of interest and the intrinsic value of the group, we think it will be difficult to come back to an offer of 15 euros", Stifel's analysts warned this morning.

Despite this, the share price lost 1.2% this morning, trading a few cents below the 15 euro threshold.

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