MUSIC group EMI, home to KT Tunstall, Coldplay and Gorillaz, confirmed yesterday it had received a number of takeover approaches, after a report said private equity firm One Equity Partners had joined the list of suitors.

MUSIC group EMI, home to KT Tunstall, Coldplay and Gorillaz, confirmed yesterday it had received a number of takeover approaches, after a report said private equity firm One Equity Partners had joined the list of suitors.
The speculation drove the shares up 8.2 per cent, to close the day at 246.

25p.
EMI, which rejected a £2.1 billion bid proposal from long-time suitor Warner Music in March, declined to say how many approaches it had received or who they were from.

There were reports yesterday that One Equity Partners, a unit of JP Morgan Chase, had approached EMI with an offer that could value the world's third-biggest music group at more than $6bn (£3bn).
In a statement, EMI said: "Further to recent speculation, EMI Group confirms that it has received a number of preliminary indications of interest to acquire the company. There can be no certainty that any offer will ultimately be made.

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The firm has issued two profit warnings this year and is trying to revive its flagging music business with a far-reaching restructuring programme.
The music industry has been damaged in recent years by internet piracy and falling CD sales, but EMI has also suffered from a lack of big hits recently and the poor performance of new releases such as Robbie Williams's Rudebox album.
EMI and Warner Music have been in a tit-for-tat takeover battle for the past seven years.