De La Rue has agreed to a £263m acquisition offer from US private equity firm, Atlas.

The deal is priced at 130 pence in cash per De La Rue share, which is a premium of 19% on the bank note producer’s share price on 11 December 2024. This was the last business day before the commencement of the offer period.

Atlas said the acquisition of the firm, which provides bank notes to Governments and central banks, "represents an attractive opportunity to build on its portfolio of manufacturing and key infrastructure businesses".

De La Rue’s business is currently made up of two reportable divisions, currency and authentication, the latter of which is set to be sold next month, following an agreement announced in October 2024.

The US private equity firm added that bringing De La Rue under private ownership will "better position it for further investment".

The agreement comes as Sky News reported that City financer, Edi Truell, has written to De La Rue’s board to indicate a willingness to offer 132.17 pence per share for the firm, through his vehicle Pension SuperFund Capital.

Chairman at De La Rue, Clive Whiley, said: "I am very pleased for all De La Rue stakeholders today. In a little under two years since I joined De La Rue, we have made profound changes which have benefitted all stakeholders.

“This offer from Atlas being announced today is the final step in this successful process - through the stabilisation of that initial position, the strategic review and transactional action plan, and culminating in the disposal of the authentication fivision and ultimately this cash offer - securing full and complete value realisation and security for all of today's stakeholders across our financiers, pension trust, employees and shareholders.

"I wish to thank them all for their support through this period and I know that under Atlas ownership, De La Rue has a strong and stable future ahead."

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