EMI and Warner in takeover battle

By paul

Music giant EMI and US rival Warner Music were locked in a takeover tug-of-war today as both companies battled to take control of each other. EMI – home to Coldplay, Gorillaz and Robbie Williams – said today it had rejected a 320p-a-share offer from Warner which valued the company at £2.54 billion. The Warner bid came in response to a £2.52 billion offer from London-based EMI, which the US firm rejected last night as the two companies traded blows with a series of takeover proposals.

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