Oberthur ready to renew De La Rue bid

French takeover suitor Oberthur is reportedly preparing to step up its pursuit of banknote printer De La Rue with an improved approach this week.

Paris-based Oberthur is understood to have joined forces with US buyout firm Bain Capital to make a sweetened proposal for De La Rue, the world's biggest banknote printer.

Bain is being lined up to provide finance for a new proposed offer expected at 950p a share or higher. Oberthur declined to comment.