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Poundland gives green light to takeover offer by South Africa’s Steinhoff July 13, 2016 Poundland share jumped today after its board accepted what had been a surprise takeover offer from South African conglomerate Steinhoff. The 222p per share offer values the bargain retailer at around £597m, according to the statement issued today. It represents a premium of 39 per cent from 13 June, before the Bensons for Beds and Harveys owner revealed its interest. Darren Shapland, chairman [...]
Steinhoff readies expected Poundland bid as deadline approaches July 10, 2016 South African retail giant Steinhoff is gearing up for an expected bid for Poundland this week, with the deadline for a possible £600m bid set for Wednesday. The Bensons for Beds owner first announced in mid-June that it was considering a bid for Poundland "without the consent of Poundland". Poundland's shares jumped over seven per cent [...]
Steinhoff increases holding in Poundland as Brexit casts doubts over takeover bid June 28, 2016 South African retail conglomerate Steinhoff has upped its holding in UK discount retailer Poundland. The increase, from 23.26 to 23.52 per cent, comes despite Bensons for Beds owner Steinhoff saying last week the UK vote to quit the European Union had caused it to rethink its recent offer for the company. Steinhoff, a furniture and household goods company with operations across Europe, Africa and Australasia, earlier [...]
Steinhoff is having second thoughts on Poundland post-Brexit June 24, 2016 South African conglomerate Steinhoff is going off discount retailer Poundland following the unexpected Brexit vote. Steinhoff, owner of UK furniture firm Harveys and Bensons For Beds, blamed last night's vote for the UK to quit the European Union, as well as the recent falls in Poundland shares, for the decision. The UK yesterday voted by 52 per cent to 48 per cent to [...]
What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Poundland announces disappointing profits after surprise takeover offer from Steinhoff June 16, 2016 Bargain basement retailer Poundland today announced a fall in sales, a day after South African giant Steinhoff said it was eyeing up the company. Read more: Poundland shares have jumped after a surprise takeover offer The figures Like-for-like sales at the discounter were down 3.9 per cent, compared to a rise of 2.4 per cent in 2015. Pre-tax [...]
Poundland shares have jumped after Bensons for Beds owner Steinhoff made a surprise takeover offer June 15, 2016 Poundland shares jumped more than seven per cent this morning after South African giant Steinhoff made an uninvited takeover offer. Shares in the discount retailer hit 210.20p in early trading, after the Bensons for Beds and Harveys owner confirmed it was considering a possible offer for Poundland. It added the announcement had been made "without the consent [...]
Poundland faces profit plunge after delayed takeover of 99p Stores last September June 12, 2016 Discount retailer Poundland might need a few quid as it braces for a plunge in profits this week. The company’s full-year results have been dragged down by its delayed takeover of high-street rival 99p Stores. Earnings per share are forecast to fall almost 43 per cent, from 15.01p to 8.58p per share, when the company [...]
The man behind the £1,000 Shop says the launch party is going to get messy May 26, 2016 David Shapiro advises his well-heeled clients to take the day off after the launch of his £1,000 shop next month. "We will be having a launch party, and it will be messy," is the word from the marketing manager of Mayfair's newest "discount" pop-up store. Shapiro says that the booze will be free flowing in August [...]
Poundland says it is on track to meet profit expectations despite accelerating like-for-like sales fall April 14, 2016 Poundland believes it is on track to meet profit expectations despite its like-for-like sales fall accelerating. The figures In the year to 27 March 2016, like-for-like sales decreased by 3.9 per cent. The fall was steeper – 4.9 per cent – in the second half of the year. In the fourth quarter, Poundland reported a sales [...]