LONDON: Warner Music group of the U.S. came up with a 2.5-billion-pound counter bid for Britain’s EMI Group Plc., the company that has been trying to acquire it.

EMI, the No 3 music company in the world, had offered 2.3 billion pounds for Warner Music, which is the world’s fourth largest and part of the Warner group. The offer, made in early May, was rejected by Warner Music.

Warner Music’s offer for EMI is around 320 pence for an EMI share, which had closed at 283.75 pence Tuesday.

It is now known that Warner Music had made an earlier offer — on 14 June — worth 315 pence-a-share. EMI had then responded by increasing its own proposal adding more cash to the offer.

EMI has not responded to the offer, but it said the offer has been received and that its board would be considering it.

Efforts for a tie-up between the two companies have been going on since long and earlier understandings could not lead to a merger because of regulatory issues or bids from other investors.

Warner Music shares fell 1.1 per cent to $27.23.