EMI might raise the bid for Warner Music

EMI might raise the bid for Warner Music

UK MUSIC giant EMI is rumored to be considering raising its bid for their US based rivals Warner Music. This comes after the company turned down a similar takeover offer from Warner.

As per incoming sources, the bid for Warner Music can now be raised to £2.6 billion as the two companies continue to slug it out between themselves.

Incidentally, Warner rejected their previous bid of £2.52 billion. Market analysts believe that the latest bid could be a successful one and the two companies should reach an accord in the coming fortnight.

If the deal goes through, the head of EMI’s music division, Alain Levy, could net more than £16 million. On the other hand, Warner might have a few plans of their own.