Steinhoff 'considering position' on Poundland takeover plan

On Friday 24^th June, Steinhoff made a statement advising that it is ‘considering its position’ regarding its proposed Poundland takeover, following a review of the retailer’s full year results and the impact of the UK’s decision to leave the EU.

Last week, Steinhoff increased its Poundland shareholding to 23% but the value retailer’s Board has not accepted Steinhoff’s unsolicited acquisition proposal, and reacted by issuing a statement advising shareholders to take no action, advising that there was no certainty that an offer would be made. 

UK takeover rules explain that Steinhoff now has until 5pm on the 13th July to make an offer or withdraw its interest.

Image credit: James W Copeland / Shutterstock.com

Source : Insight DIY

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