De La Rue receives French bid

07/12/2010

De La Rue, the banknote printer and manufacturer of money counting machines for the gaming industry, has received a bid from French rival Oberthur Technologies.

“De La Rue plc notes the recent press speculation and confirms that it has received a highly preliminary and opportunistic approach,” according to a very brief statement.

“There is no certainty that this highly preliminary approach will lead to an offer,” it warned

Talk is the all-cash deal valued the UK company, also responsible for printing UK passports, at around £800m, a 25% premium to Friday’s price tag of £641m.

Rumour has it that following the rejection of its initial approach, privately-owned Oberthur could come back with a bigger offer soon.

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