De La Rue PLC on Thursday said it is ‘considering its options’ after receiving a bid proposal worth 125 pence per share.
The offer from Disruptive Capital GP Ltd and Pension SuperFund Capital is conditional on the completion of the already announced planned sale of the Authentication division to Crane NXT Co.
A bid at that level would value Basingstoke-based De La Rue, which prints banknotes for the Bank of England and other central banks across the world, at around £244 million.
On Thursday, shares in De La Rue were 9.8% higher at 112.55p each for a market value of £220.7 million.
In December, De La Rue said Disruptive Capital GP and Pension SuperFund Capital had offered to buy up to 40% of the company at the same price of 125p per share.
In addition to the bid developments, De La Rue said discussions with other parties in relation to the disposal of the Currency division continue to progress.
Disruptive Capital GP and Pension SuperFund Capital have until February 6 to announce a firm plan to buy De La Rue.
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