International Distribution Services PLC - London-based owner of Royal Mail - EP Corporate says it now has received 90.15% acceptances of its £3.6 billion takeover offer. As a result of passing the 90% threshold, EP Corporate, the vehicle of Czech billionaire Daniel Kretinsky, will now move to compulsory acquisition of remaining IDS shares. EP Corporate expects to cancel the trading of IDS shares on the London Stock Exchange by Monday next week. Under the terms of the offer, shareholders will receive 370 pence for each IDS share. The deadline for acceptances is June 11. The takeover offer is worth £5.3 billion including IDS’s debt.
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