De La Rue accepts £263 million bid from Atlas Holdings

De La Rue, the historic banknote printer, has agreed to a £263 million takeover by US private equity firm Atlas Holdings, marking a significant shift after nearly 80 years on the London stock market. The recommended offer of 130 pence per share represents a 19% premium to the company's share price before the acquisition interest was disclosed. De La Rue's board has unanimously endorsed the Atlas offer over a competing bid from Pension SuperFund Capital led by Edi Truell, citing the need for long-term stability and growth. Atlas believes the acquisition will enhance its portfolio of manufacturing businesses, focusing on companies with cyclical cash flows. This deal follows De La Rue's recent strategic moves, including the planned sale of its authentication division for £300 million. The transaction signifies De La Rue's transition into private ownership, aimed at fostering future growth and operational stability.