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Royal Mail owner approves £3.5bn takeover deal with Czech billionaire

Royal Mail - efficiency offsets volume declines
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Written by
The Independent
Published May 29, 2024

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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.

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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.

This article was written by Joe Middleton from The Independent and was legally licensed through the DiveMarketplace by Industry Dive. Please direct all licensing questions to legal@industrydive.com.