DLAR.L buy

I bought some shares in troubled money print DLAR.L (De La Rue) at 846.6p (including commission).

DLAR had an approach for 905p cash, valuing the company at £896m (it has 99.0m shares in issue).  The bid was rejected, but I'm approaching this from an arbitrage kind of way. I'm saying that, at least, an informed outsider would be willing to pay c £900m for the company. IF a deal could be consummated at this level, I'd stand to make 6.9% profit. Possibly a higher amount would be offered, and there may be other bidders.

I get the impression that 905p is a bit lowball, so hopefully a better bid will emerge.

DLAR has a z-score of 3.11.