Tuesday 25 April 2017

The owner of Dealz is now valued at €710m

The new Dealz store in Clonard.
The new Dealz store in Clonard.

James Davey

South Africa's Steinhoff has improved the terms of its agreed takeover of discount retailer Poundland, which trades here as Dealz.

Steinhoff said it is now offering 227p in cash for each Poundland share, comprising an offer price of 225p and a 2p dividend, valuing the UK firm at £610.4m (€710m).

The revised offer price represents an increase of 5p per Poundland share over the 220p announced on July 13 and follows stake building in the British firm by activist investor Elliot.

Reuters

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