Today (23 April) EP UK Bidco and International Distribution Services (IDS) announced that as at 3pm yesterday, EP UK Bidco could count just over 392m IDS shares – representing approximately 40.91% of its issued share capital – towards satisfaction of the acceptance conditions.
EP Bidco is backed by Czech billionaire Daniel Křetínský’s Vesa Equity Investment, which was the biggest shareholder in IDS with a 27.58% stake.
The £3.6bn, 370p-a-share offer from EP UK Bidco remains subject to acceptance conditions. It will become unconditional if valid acceptances representing 75% of the voting rights of IDS are received by no later than 1pm on 30 April.
The takeover timetable resumed on 2 April after a delay caused by political unrest in Romania. At that point EP UK Bidco’s acceptances were at 33.58%.
The IDS board has recommended the offer.
