Discount retailer recommends 220p a share deal nearly a month after South African group emerged as potential buyer
Poundland has agreed to a £597m takeover by Steinhoff, the South African retail conglomerate that owns Harveys and Bensons for Beds in the UK.
The struggling discount retailer recommended the deal to shareholders, who will receive 220p a share, plus the 2p per share dividend announced in June for the year ending 27 March. It values the company at £597m, Poundland said.
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