(Reuters) – U.S.-based buyout firm Atlas Holdings is in advanced talks to take over Banknote printer De La Rue for about 130 pence per share, Sky News reported on Monday.
The deal recommended by De La Rue’s board was likely to be announced as early as Tuesday morning, the report added, citing a shareholder.
The offer from Atlas Holdings does not include De La Rue’s authentication division, per the report. This comes after the banknote printer announced last week that it is close to concluding the sales of its authentication division to Crane NXT for 300 million pounds ($395.88 million).
The company has a market capitalization of 220 million pounds, according to data compiled by LSEG.
De La Rue and Atlas Holdings did not immediately respond to Reuters’ requests for comment.
De La Rue’s currency unit designs and prints banknotes, develops security features such as colour-shifting inks to prevent counterfeiting, and provides polymer substrate for more durable and eco-friendly banknotes.
($1 = 0.7578 pounds)
(Reporting by Janaki Venugopalan in Bengaluru; Editing by Alan Barona)
