PSF Entities withdraw bid for De La Rue plc

LONDON - PSF Entities, a group of investors, announced Thursday that they have withdrawn their intention to make an offer for De La Rue (LON:DLAR) plc, the UK-based company known for its banknote printing and security features. This decision is in compliance with Rule 2.8 of the City Code on Takeovers and Mergers.

The announcement means that PSF Entities and any parties acting in concert with them are now subject to certain restrictions under the same rule. However, they retain the right to make or participate in an offer for De La Rue within the next six months under specific conditions. These conditions include receiving consent from De La Rue’s board following the withdrawal of a competing offer from Atlas Holdings, a third party announcing a firm intention to bid, De La Rue plc proposing a Rule 9 waiver or announcing a reverse takeover, or a material change of circumstances as determined by the Panel on Takeovers and Mergers.

The statement released by PSF Entities clarified that the announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale, issuance, or transfer of securities in any jurisdiction that violates applicable law. Additionally, the announcement contains no inside information as defined under Article 7 of the UK Market Abuse Regulation.

This development follows the regulations set by the City Code on Takeovers and Mergers, designed to ensure fair treatment for all shareholders in the event of a takeover bid. De La Rue plc and PSF Entities are required to adhere to these rules to maintain market integrity and investor confidence.

The announcement also notes that this information will be available on De La Rue’s website, in line with regulatory requirements, and provides contact information for further inquiries.

The withdrawal of PSF Entities’ bid adds to the ongoing narrative of mergers and acquisitions within the UK’s financial sector. De La Rue, with a history dating back over two centuries, remains a significant player in the production of secure documents and banknotes worldwide.

This news is based on a press release statement and adheres to journalistic standards for factual reporting without speculation or endorsement of claims.

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