Poundland agrees higher takeover offer
Steinhoff has increased its offer for Poundland by around £13m following an increased stake by American activist investor, Elliot. The deal has now been agreed giving Poundland investors a 5p per share premium on the previous offer.
Steinhoff, the South African owner of Bensons for Beds and Harveys has been shopping for another European retailer for some time. Most recently they were part of a bid for Argos before losing out to Sainsbury’s.
Poundland represents an attractive choice in the current high street market, in the case of another recession it is widely thought that discount retailers like Poundland will weather the storm better than many others while offering plenty of opportunities for expanding to more high streets.