The banknote printer and specialist in other forms of document security, De La Rue, issued an update this morning, noting it had agreed terms with a private equity company to be bought out. Discussions have been ongoing since late last year and the agreed price of 130p per share represents a material premium to even last night’s close. Arguably the most worrying note in here is the admission that the new owners believe further investment will be easier to secure as a private rather than public company. Shares in De La Rue are up almost 14% in early trade.
Discount retailer B&M issued a post close trading statement noting that adjusted EBITDA is expected to be above the midpoint of the previously offered guidance and that momentum was building through the final quarter of the year. Those two factors seem to have been sufficient for markets to overlook the more challenging trading conditions seen earlier in the year, whilst new store roll outs continue apace, too. The B&M share price was almost 5% higher shortly after the bell.
Food supplier Tate & Lyle issued an integration update and a pre-close trading statement this morning, noting that the incorporation of CP Kelco into the business was performing well and will deliver a 90bps uptick in EBITDA for FY25. The business as a whole performed in line with guidance and excluding the acquisition, EBITDA is expected to be 4% higher off a 5% drop in revenues. The Tate & Lyle share price was 3.5% higher by 8.30am.
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