WARNER Music was yesterday reported to be lining up its latest bid attempt in the battle for troubled rival EMI.
Warner, which has repeatedly tried to merge with the record group, which is home to stars including Lily Allen, Norah Jones and Robbie Williams, is said to be examining EMI's books. Private equity firms Fortress, Cerberus and One Equity are also looking at EMI's figures and are expected to make an offer by the deadline on Wednesday.
EMI said earlier this month that it had received a number of "preliminary indications of interest" with One Equity speculated to be considering a $6bn (£3bn) approach. EMI has a current value of £1.97bn. Warner Music, which boasts artists such as Madonna and the Red Hot Chili Peppers, and EMI made two bids for each other last summer as both struggled with falling sales and digital music downloads.
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