A Chinese automotive company is said to be “putting the final touches” to a £200 million take-over bid for Alexander Dennis (www.alexander-dennis.com), the Falkirk-based bus maker.

The Scotsman newspaper reports that Shanghai-listed Yutong (en.yutong.com) has held preliminary talks with the Scottish company, which has 2,000 workers and produces buses for major transport operators such as First Group and Stagecoach. It also said that a competing offer from another Chinese company — BYD, which already has a business relationship with Alexander Dennis — is possible.

Alexander Dennis ran into financial problems 12 years ago, but it was saved by a consortium of Scottish businessmen, including Stagecoach founder Sir Brian Souter. Its fortunes have improved since then, and the group made a pre-tax profit of £13.2 million in 2014.