The board of Royal Mail owner International Distribution Services said it has agreed to a £3.57 billion takeover offer from Czech billionaire Daniel Kretinsky’s EP Group.
The board of Royal Mail owner International Distribution Services said it has agreed to a £3.57 billion takeover offer from Czech billionaire Daniel Kretinsky’s EP Group.
Mr Kretinsky’s EP Group vehicle, which already owns 27.6 per cent of the business, made a formal offer for the business after initial proposals earlier this month.
The deal will see EP pay 370p per share to investors in IDS.
Shareholders will vote on the deal at IDS’s next annual general meeting in September.
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