Poundland has agreed to a £597m takeover of the company by South Africa’s Steinhoff.
The retailer has recommended Steinhoff’s offer of 220p a share to its shareholders, who will also receive a 2p per share dividend.
Steinhoff made an approach for the company in June, building up a 23.6% stake in it. The deadline for it to make a firm offer had been due to expire yesterday.
