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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/pursuit-of-money-printer-steps-up.jpg"><img class="alignnone size-full" title="Banknote printer De La Rue is being pursued by takeover suitor Oberthur" src="http://londonglossy.com/wp-content/uploads/2011/01/min-pursuit-of-money-printer-steps-up.jpg" alt="Banknote printer De La Rue is being pursued by takeover suitor Oberthur"/></a></p>
<p>French takeover suitor Oberthur is preparing to step up its pursuit of banknote printer De La Rue with an improved approach this week, it has been reported.</p>
<p>Paris-based Oberthur is understood to have joined forces with US buyout firm Bain Capital to make a sweetened proposal for De La Rue &#8211; the world&#8217;s biggest banknote printer.</p>
<p>Bain is being lined up to provide finance for a new proposed offer expected at 950p a share or higher, according to The Sunday Times.</p>
<p>Oberthur declined to comment, but it is thought the group will make its latest move shortly after De La Rue publishes a trading statement expected this week.</p>
<p>Oberthur has until 5pm on February 7 to make a firm bid for De La Rue or walk away under a &#8220;put up or shut up deadline&#8221; imposed by the City takeover panel.</p>
<p>It first tabled a proposal at 905p a share last month, which was dismissed as being &#8220;opportunistic&#8221; by the board of De La Rue.</p>
<p>De La Rue&#8217;s share price has plummeted by more than a third in recent months following production problems that caused its chief executive James Hussey to resign and cost the group £35 million to date.</p>
<p>Oberthur has increased pressure on De La Rue since making its £900 million indicative offer, calling for a clearer picture of the production problems and full details of the issues which arose with a &#8220;principal customer&#8221;, understood to be the Reserve Bank of India.</p>
<p>De La Rue, which prints notes for the Bank of England and 150 other countries, said in its half-year results in November that volumes were set to drop 20% this year following the crisis, which suspended production and a shipment of the affected banknote for two months.</p>
<p>The impact on full-year accounts is still unknown.</p>
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