Colchester United have had a bid for Shrewsbury Town striker Grant Holt rejected.
The former Rochdale and Nottingham Forest forward scored 28 goals last term as the Shrews failed to win promotion to League One.
U's chief executive Steve Bradshaw told the club's official website: "Our first offer was rejected by Shrewsbury but we're still in negotiations to get him on board.
"He has a good goalscoring record, is a strong forward and also has the kind of work ethic that Paul Lambert requires from his players as we seek a return to the second tier.
"We're very keen to bring him in but there's obviously a line that we won't cross financially in our aims of becoming a sustainable Championship club both on and off the pitch."