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Oberthur handed deadline to make De La Rue bid

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Oberthur has been told to put up or shut up in its pursuit of De La Rue by the London Stock Exchange (LSE) Takeover Panel, which has given it until the 7 February to make its intentions clear.

The Takeover Panel has given Oberthur a deadline of 5pm on 7 February to announce a "firm intention to make an offer for De La Rue" after the latter flagged up Oberthur's 6 December announcement confirming it's proposed bid for the world's largest banknote printer.

Should Oberthur announce that it does not intend to make an offer for De La Rue, it will be prevented from bidding for the target for six months in accordance with Rule 2.8 of the City Code.

Both parties have accepted the Takeover Panel's ruling, which comes after several announcements from France-based Oberthur concerning what De La Rue termed its "highly preliminary and opportunistic approach".

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