UK-based discount retailer Poundland has accepted an improved takeover offer from Steinhoff, a South African retailer.

Steinhoff improved its takeover offer by 5p a share to 227p, which also consists of a 2p dividend.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Accepted by the board of Poundland, the offer takes the value of the discount retailer to around £610m.

"The offer takes the value of the discount retailer to around £610m."

Steinhoff will pay £466m for the 76% stake it does not own in the company.

The South African firm first revealed its interest in acquiring the discount retailer in June.

In July, Steinhoff came to an agreement for a £450m deal to secure complete control of Poundland, but activist investor Elliott Advisors began increasing its stake.  It currently owns 17.5% of the UK retailer.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Steinhoff will need to secure three-quarters of votes in its favour, in addition to its own stake, to acquire Poundland.