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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/de-la-rue-attracts-french-interest.jpg"><img class="alignnone size-full" title="Banknote printer De La Rue confirmed a takeover bid has been made" src="http://londonglossy.com/wp-content/uploads/2010/12/min-de-la-rue-attracts-french-interest.jpg" alt="Banknote printer De La Rue confirmed a takeover bid has been made"/></a></p>
<p>Embattled British banknote printer De La Rue could fall into foreign hands after a rival firm from France revealed it wants to buy the company.</p>
<p>Paris-based Oberthur said it made an offer of 905p per share on November 10 but De La Rue&#8217;s management refused to enter into negotiations as they did not believe the offer recognised the true value of the company.</p>
<p>De La Rue&#8217;s share price has plummeted by more than a third in recent months following production problems that caused its chief executive James Hussey to resign and cost the group £35 million.</p>
<p>Oberthur brought its offer out in the open with a statement which is likely to put pressure on De La Rue to engage in talks.</p>
<p>It said: &#8220;Oberthur very much hopes that the board of De La Rue will agree to enter into substantive discussions, possibly leading to an offer which would benefit the company&#8217;s customers, its staff and its shareholders and could provide the catalyst for restoring the company&#8217;s reputation.&#8221;</p>
<p>Its offer was a 64% increase on De La Rue&#8217;s share price when it slumped to 550p following a trading update on November 23 in which the company revealed the cost of the blunder.</p>
<p>Oberthur would deduct the 14.1p dividend announced in November and any future dividend payments from its offer, it added.</p>
<p>Shares in De La Rue soared by 32% following the announcements.</p>
<p>In a statement released earlier De La Rue said the potential offer was &#8220;highly preliminary and opportunistic&#8221; and did not reveal the identity of the bidder.</p>
<p>The world&#8217;s biggest banknote printer said in its half-year results in November that volumes are set to drop 20% this year following the crisis, which suspended production and a shipment of the affected banknote for two months.</p>
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