|
|
De La Rue and Portals reopen talks on merger
- Article from:
-
The Independent - London
- Article date:
-
December 7, 1994
- Author:
-
|
Copyright informationCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
|
De La Rue, the security printer, and Portals, the specialist
paper maker, yesterday announced that they had renewed talks,
fuelling speculation of an eventual bid for the paper maker.
Portals finished the day 10 per cent higher, up 66p at 771p, as
the market became convinced that a bid - possibly valuing Portals
as high as pounds 10 a share - was on the cards. The shares traded
at 631p before takeover speculation was fired earlier this year.
Talks broke down last May because terms could not be agreed.
Both parties said the announcement was prompted by an "untoward"
movement in Portals' shares. They jumped 45p in morning trading.
De La Rue, where the former Hanson man Jeremy Marshall is chief ...