Treasury Holdings is expected to confirm his morning that it will make a renewed bid to purchase Green Property.

The company will make a statement that is was behind a bid last week for Green, which was rejected.

It is thought that the original offer was priced in excess of €7 euros per Green share, though an informed source said reports that the original bid was valued at €7.4 euros were inaccurate.

The company will confirm that is being advised by Deutsche Bank. The timing and value of the new bid were unclear last night and it is thought other matters besides the share per price may be under discussion.

In a statement last Wednesday, Green said it had received a bid approach from an unidentified consortium but had been unable to recommend the offer on the terms outlined. That company was Treasury.

"The consortium, which had not involved any of Green's own management, had expressed an interest in making a recommended offer for the company's share capital," the statement said.

"The board responded it would not be prepared to recommend an offer on the terms indicated", it said.

Green's chief executive, Mr Stephen Vernon, has expressed concern about the group's share price "and issues surrounding shareholder value".

However, a management buyout team which considered an offer for the company has decided against proceeding with a bid.