Coe receives takeover bid

The directors of Leeds-based Coe said they intend to unanimously recommend the offer to shareholders.

The terms of the offer value each Coe share at 9p, a 64 per cent premium to last night's closing price of 5.5p a share.

Digital Barriers said the acquisition of Coe will provide it with the next step in the development of its strategy to build a leading mid-market business in homeland security.

It added that the deal will give Coe, its employees and customers, significant additional benefits that are currently not available to the group as an independent business.

COE has over 20 years' experience of providing surveillance solutions to some of the most complex sites in the world.