The EMI Group's stock slipped yesterday following weekend reports that the mighty major label was to make another bid to purchase Warner Music Group.
The Observer ran an article on Sunday claiming that EMI are looking to offer Warner shareholders around $30 per share. However, said shareholders are unlikely to sell for anything less that $35 per share. A previous offer of $28.50 per share, which EMI made at the start of May, was rejected.
EMI is yet to make a public statement about the article, but industry experts assumed a second offer would follow the knocked-back $28.50 attempt sooner rather than later.
Mergers and acquisitions, eh? I reckon they should all get American Psycho on each other and be done with it.