The takeover battle between two of the world’s biggest record labels intensified today amid reports that Warner Music is contemplating an improved £2.7bn (€3.9bn) bid for EMI.
The Times newspaper said United States giant Warner was looking at an offer worth 340p-a-share having had two earlier bids at 315p and 320p rejected.
Such a bid would raise the stakes in the tug-of-war between the two companies which has also seen EMI launch two unsuccessful bids for Warner, including one of £2.52bn (€3.63bn) towards the end of last month. A tie-up between the pair has long been regarded as a strong possibility and would bring together EMI artists such as Coldplay and Robbie Williams with Warner’s Madonna and Red Hot Chili Peppers.
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