Steinhoff’s cash offer is worth 222p a share, about 40 per cent more than where the stock was trading before bid speculation sent it soaring last month.
Steinhoff bought a stake in Poundland and announced it was considering an offer the week before Britain’s surprise vote to leave the European Union, a decision that clouded the outlook for the economy and consumer spending.
“We believe that there is significant merit in bringing...
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