EMI Group, the struggling British music company, said this morning it has received a new takeover approach from US rival Warner Music.
EMI, which confirmed the new bid, said there was no firm proposal for the board to consider and added there was no certainty that the latest approach would lead to a formal offer. EMI has issued two profit warnings since mid-January.
EMI and Warner Music had last year each tabled and rejected proposed take-over bids of about £2.5 billion (€3.7 billion) for each other.
Later in July 2006, the pair said they would sit tight following a move by the European Union's second-highest court to cancel the European Commission's approval of the mega music merger which was to create Sony BMG.
A combination of EMI and Warner would create the world's third-biggest music company behind Universal Music and Sony, and would count Coldplay, Madonna, Eric Clapton, Eminem and Scissor Sisters among its artists.
The announcement by the world's third-largest music company sent its shares up 8% to close at 240p in London.
