De La Rue rumoured to be in line for GBP 757m cash takeover bid
De La Rue, the UK-based listed banknote printer, is rumoured to be in line for a cash takeover offer pitched at 750p per share, or GBP 757m (USD 1.2bn), The Daily Mail reported. France-based Oberthur and an unspecified European private-equity house are rumoured to be the likely buyers, the market report said.
A Times market report noted the trader speculation of takeover interest in De La Rue and stated that Ingenico, the French payment-technology company, is often tipped as a prospective buyer of the business.
Oberthur abandoned a 935p-per-share offer for De La Rue four years ago, since which time the British company has issued three profit warnings, the Mail report noted. The company’s shares were trading at 546.5p by yesterday’s close (17 February).
Prudential owns a 14% stake in De La Rue, while M&G Investments owns 9.9%, the item stated.
Daily Mail, The Times