By Sandra Rose  | 

Johnny Nunez/WireImage

Damon Dash (left) is eager to sit down and talk man to man with Jay Z, after the rapper extended an olive branch to him during his induction into the Rock & Roll Hall of Fame.

The two men were close friends when they co-founded Roc-A-Fella Records with partner Kareem "Biggs" Burke back in 1995 and released Jay Z's album Reasonable Doubt in 1996. However, they fell out when they sold their remaining 50% stake in Roc-A-Fella Records to The Island Def Jam Music Group.

Jay Z, then CEO and President of Def Jam Recordings, retained Roc-A-Fella Records' masters and ousted his former partners Dash and Burke.

Things came to a head earlier this year when Dash decided to proceed with an auction to sell his share of Jay Z's album Reasonable Doubt, despite legal action from the rapper.

However, Jay Z, 51, spoke warmly about Dash, 50, at the Hall of Fame induction on Saturday, saying:

"Shout out to Dame. I know we don't see eye-to-eye, but I can never erase your accomplishments. And I appreciate you and I thank you for that... Thank you for our journey. Thank you. Thank you for your contribution to this journey."

Dash called Jay's message "beautiful" in an interview with the New York Post's Page Six.

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"I'm glad he said it for the culture. We need to squash everything. So hopefully if that was an extended (olive branch) I'll spin one back," said Dame, pictured with Jay Z in 2004.

"I have no beef with (him) if (he has) no beef with me. Let's get the lawyers out of it then. Let's talk like men, but I definitely appreciate it.

"I would never want you to think that we have to go to the court to resolve anything. We can talk it out and the culture needs to see two strong black men working out a problem. Even if they worked together they can go their separate ways they can still be cool."

Despite their differences, Dash said he will always consider Jay Z a "brother".

"We should not be divided. We have accomplished too much to be beefing... There ain't no way I'm never gonna [not] consider [him] my brother — it's just that we don't see eye-to-eye."