It's official - not even printing money can keep your shares high up

[AtW]

Bank of England's banknote printer sees shares plunge 15% after French suitor Oberthur walks away from bid

Shares in De La Rue, the Bank of England's banknote printer, dived by 15% today after its French suitor Oberthur walked away from a bid.

Seven hours after De La Rue announced that it had received – and rejected without discussion – a second, higher bid approach from Oberthur, the company ended its pursuit.

Minutes before the stock market closed, Jean-Pierre Savare, Oberthur's president, announced: "In the face of the continued refusal of the board of De La Rue to engage in meaningful discussions, and its swift rejection of the increased offer, Oberthur has decided to withdraw and now announces that it does not intend to make an offer for De La Rue."

Taking a combative tone, Savare added: "The board of De La Rue has not only rejected our approach but has also ignored requests for clarity to be given to the market in relation to the fundamental questions about the company's customer relationships and financial prospects.

"As a result, De La Rue shareholders have seen no information to support De La Rue's assertion that the increased proposal significantly undervalues 'the strong fundamentals of the company and its long-term prospects'."

More from the source: De La Rue shares plunge as Oberthur drops bid | Business | The Guardian

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Oh FFS - learn how to print euros and you'll be sorteeeeeeeeeeeeeeeeeeeed! Innit?

[RichardCranium]

Isn't a money-printing company doomed to fail?

The more work they are given, the less they and their contracts are worth.

[Freamon]

Kinda puts paid to the conspiracy theory that the BoE are running the printing presses "in overdrive" though, doesn't it.

[TestMangler]

Isn't a money-printing company doomed to fail?

The more work they are given, the less they and their contracts are worth.

They also print 'test money' which, the way things are going, is probably worth more than the real stuff.

I like to keep some De La Rue test money in my wallet to give to blind beggars on the streets of Halifax.

[MarillionFan]

Worked there. Very interesting

[TimberWolf]

Kinda puts paid to the conspiracy theory that the BoE are running the printing presses "in overdrive" though, doesn't it.

Only if the BoE are literally 'printing money', rather than the phrase being used as a metaphore for the easier to print electronic money. People use plastic for purchases now, so perhaps we need an electronic wheelbarrow metaphor to go along with it.