CDNow Foresees Low Investment Price

CDNow Inc. said its quest for an investment or merger could produce offers that are below its share price. The Internet music seller said it is continuing to talk with several groups as it seeks additional cash for operations. It didn’t say when it expects the talks to conclude. Fort Washington, Pa.-based CDNow, which said earlier this month that it is talking with five groups, said that it continues to negotiate with several of those investors and that other groups have expressed an interest. CDNow shares fell 9 cents to close at $4.28 on Nasdaq.