Poundland to be sold to Steinhoff for £597 million
Steinhoff, which also owns the Harveys furniture chain and Benson for Beds, will pay 222p per share for the company.
Poundland operates a network of over 900 stores across the UK, Republic of Ireland and Spain.
Darren Shapland, chairman of Poundland, said: "The Poundland Board believes that SEAG's all-cash offer presents Poundland shareholders with an opportunity to realise their shareholding at a certain and attractive price.”
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