Warner Music is today reported to be lining up its latest bid attempt for troubled rival EMI.
Warner, which has repeatedly tried to merge with EMI, is said to be examining EMI's books, according to the Financial Times.
Private equity firms Fortress, Cerberus and One Equity are also looking at EMI's figures. They are expected to make an offer by the deadline on May 23rd.
EMI announced on May 4th that it had received a number of "preliminary indications of interest to acquire the company", with One Equity speculated to be considering a $6 billion (€4.4 billion) approach for the group.
EMI has a current market valuation of £1.97 billion.
Warner Music and EMI made two approaches for each other last summer as both groups struggled with falling sales amid the take-off in digital music downloads. But both groups were thwarted when a European court judgment cast doubt on whether regulators would allow further consolidation in the music industry.
Warner made a fresh approach for EMI with a conditional proposal of 260p (380 cent) a share earlier this year following a profits warning from EMI.
PA