News in Brief

Enhanced Offer for De La Rue

On 12 December De La Rue made known that it had entered talks with a consortium to sell up to 40% of its equity, which would value the company at about £245 million. It had received a proposal of £1.25 per share is from private equity group Disruptive Capital GP and pension fund manager Pension SuperFund Capital – together, PSFC Entities.

Under London Stock Exchange rules, PSFC Entities had, by no later than 9 January 2025, to either announce a firm intention to make a partial offer or withdraw.

The partial offer is no longer under consideration. Instead PSFC Entities has made a preliminary possible conditional cash offer of £1.25 per share for the entire issued and to be issued share capital of the company.

As with the initial partial offer, this offer is conditional, amongst other things, on the successful completion of the already announced planned sale of the Authentication division to Crane NXT.