Epic Twists and Turns! De La Rue Avoids Takeover After PSF Entities Withdraw Offer

Wave goodbye to your mid-afternoon slumber as waves are being made in the financial world. PSF Entities made the surprising announcement that they are retracting their bid for the entire issued and soon-to-be issued share capital of De La Rue plc, a move that has sent shockwaves and caused more than a few furrowed brows. But as the saying goes, ‘all’s fair in love and takeover bids’. The PSF Entities, along with any person in agreement with their actions, now find themselves bound by the confines of Rule 2.8 of the City Code on Takeovers and Mergers. This then begs the question, what does the future hold for De La Rue? In a rather exciting twist, it seems that the tale is far from over. Unbelievably, PSF Entities have reserved the right to announce or participate in an offer (or possibly an offer) for De La Rue plc within six months from the date of this announcement, but only under certain conditions. A third-party offer on De La Rue, a Rule 9 waiver proposal from De La Rue, or a reverse takeover might trigger the comeback of PSF Entities. Furthermore, The Panel on Takeovers and Mergers could also determine a material change of circumstances, leading to our friends at PSF Entities making their grand return. It’s a sizzler of an industrial-scale drama that’ll be keeping us at the edge of our financial desks. The only thing that can be said at this point? Stay tuned, De La Rue watchers. This wild ride is far from over.