Revised bid values retailer at $1.4BN.

Private equity firm Permira has raised its proposed takeover offer for music store chain HMV Group to just over £2 ($3.49) a share, a source familiar with the situation said on Friday (March 3).

The revised offer values the retailer at £802 million ($1.4 billion) and HMV has yet to respond to Permira's new proposal, the source added.

The music store chain in February rejected Permira's previous offer of 190 pence a share as too low.

HMV and Permira declined to comment.

-- Reuters