Napster’s shares may have lost 95% of their value in the last six years, but that isn’t stopping several hedge funds reportedly mulling takeover bids for the music firm. Bloomberg points out that the company’s largest investor, Eminence Capital, boosted its stake in Napster to 9% during the second quarter of this year, while rival hedge fund JDS Capital Management bought a million Napster shares during the first quarter. “Investors are recognising that at these levels, it’s definitely an attractive takeout play for somebody,” says Piper Jaffray analyst Michael Olson. Intriguingly, JDS is also the owner of eMusic – could they have a merger in mind?

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