Richard Bernstein, who runs Crystal Amber, predicted that a sale of De La Rue’s authentication division alone would generate more than the company’s value after the stock fell 25% on Monday, according to the report.
De La Rue shares tumbled 25% on Monday after the company delayed implementing its turnaround plan by a year and announced that its full-year profit would fall below market expectations, a time when it faces faced with coronavirus-related staff absences and supply chain issues.
The activist investor, the company’s third-largest shareholder with a stake of around 10%, said in a monthly report on Friday that the currency printing industry needed consolidation.
He added that De La Rue would be the subject of a takeover offer from one or more competitors in the coming months.
The FT quotes Clive Vacher, chief executive of De La Rue, who said the board had confidence in the group’s strategy. He did not comment on takeover speculations.
Crystal Amber did not immediately respond to a Reuters request for comment.