HMV set for higher bid

The private equity firm stalking HMV was today reported to be willing to pay at least £802m (€1.16bn) to secure board support for a takeover.

Permira is understood to have put a revised proposal on the table after HMV, which owns the Waterstone’s book chain as well as a string of music stores, turned down a £762.5m (€1.11bn) indicative offer last month.