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Pressure on De La Rue to admit Portals bid
- Article from:
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The Independent - London
- Article date:
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May 16, 1994
- Author:
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Copyright informationCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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DE LA RUE, the world's largest banknote printer, is expected to
come under pressure today to confirm that it is the mystery bidder
for Portals, the company that makes paper for banknotes and teabags.
The Stock Exchange is likely to seek a clarificatory statement
from De La Rue to allay concerns about a false market in the
company's shares.
Although De La Rue was yesterday maintaining its policy of not
commenting on market rumours, it was identified as the bidder for
Portals, one of its biggest suppliers.
Shares in Portals were sent soaring on Friday when it was forced
to disclose that it had received a takeover approach. The share
price had already moved up quite sharply as market ...