De La Rue Takeover Rumours (DLAR)

This has floated.. hTTps://news.sky.com/story/bank-of-england-currency-printer-de-la-rue-receives-takeover-offer-13285921

hTTps://news.sky.com/story/bank-of-england-currency-printer-de-la-rue-receives-takeover-offer-13285921

Not long to wait for the put up or shut up date here. Rule 2.6(a) of the Code requires that the PSFC Entities must, by no later than 5.00 p.m. on 9 January 2025, being the 28th day following the date of this announcement, either announces a firm intention to make a Partial Offer for De La Rue in accordance with Rule 2.7 of the Code or announces that it does not intend to make a Partial Offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.

40% means must bid unless Takeover Panel grants waiver, I think -- not up to the company

Fair point W. A buyback theoretically has no impact on the share price as all you are doing is converting cash to treasury shares which you cancel. So less shares outstanding vs less cash. Any smart ideas how CRS can sell their shares without a takeover of the currency unit?

Is anyone else getting a bit nervy about the potential takeover? I thought we would have had some notification by now. If it drags on into September I think shareholders will start to bale out.