As at 1pm on 30 April, EP UK Bidco backed by Czech billionaire Daniel Křetínský, had received just over 767.2m acceptances, representing 80.06% of the issued share capital of IDS.
Křetínský, the founder and chairman of EP, said he was delighted to have secured the overwhelming support of IDS' shareholders for the £3.6bn, 370p-a-share offer.
“EP Group is a patient, committed investor and we believe the pathway to success for IDS lies in taking a truly long-term view of the future, putting employees and customers at the heart of everything IDS does, supporting the investments needed to deliver high quality services and products and in sharing the fruits of success with employees,” he said.
He also thanked the IDS board and management team for their contributions to IDS, GLS and Royal Mail.
“We are looking forward to working alongside Martin and his team to continue improving service quality, innovating for customers and growing the business. I would also like to thank the unions for the constructive approach they have taken to engaging with us throughout this process.
“Employees are at the centre of our plans for the business and we know we will only succeed with a clear, shared vision for the future that we can all work towards,” he pledged.
The CWU union posted on X, and said the takeover was a pivotal moment: “It is now time to hold them [EP Group] to account on our groundbreaking agreement and start the long process of rebuilding Royal Mail.”
The takeover of Royal Mail by EP Group has been confirmed.
— CWU (@CWUnews) April 30, 2025
It is now time to hold them to account on our groundbreaking agreement and start the long process of rebuilding Royal Mail. pic.twitter.com/kd01mVZ1it
The Offer remains open for acceptance until further notice and IDS shareholders who have not yet accepted the offer are urged to do so as soon as possible.
The cancellation and delisting of IDS shares on the London Stock Exchange is expected to take effect no earlier than 2 June.
Afterwards IDS will be re-registered as a private limited company.
A special dividend of 8p per share will be paid to all IDS shareholders that are on the register at 6pm today.
Because of the offer being declared unconditional, IDS will not be publishing preliminary results for the year to 30 March in the usual PLC timeframe.
When the group is de-listed EP is expected to appoint its own non-executive directors.
Chair Keith Williams, along with non-execs Sarah Hogg, Maria da Cunha, Michael Findlay, Lynne Peacock, Shashi Verma, Jourik Hooghe and Ingrid Ebner are expected to resign.
IDS Group CEO Martin Seidenberg and CFO Michael Snape will continue in their roles.
Williams commented: "I would like to thank Royal Mail and GLS colleagues around the world for their collective efforts to transform our businesses to better meet the needs of customers today, and the future.”
He said the board believed that with continued investment in strategic areas such as the network and out-of-home solutions, IDS had the potential to become “a leading international logistics player, building on the progress already made by these two great businesses”.
“Both the IDS board and EP are acutely aware of the unique heritage of Royal Mail.
“We have been pleased to secure a far-reaching package of legally binding undertakings and commitments, which have been endorsed by government. These provide our customers, colleagues and broader stakeholders with safeguards for the provision of the Universal Service Obligation, the ongoing financial stability of Royal Mail, the maintenance of colleague benefits, and Royal Mail's broader role in the United Kingdom.
“Now that the offer is unconditional our shareholders will be able to realise value at a significant premium.”
The group’s annual report and accounts will be published over the summer.
In its interim results to 29 September 2024, IDS posted group revenue up 8.2% at £6.34bn.
Sales at Royal Mail were up 10.7% at £3.92bn, while continental parcels wing GLS grew sales by 4.4% to £2.43bn.
In the IDS year-end results for the 53 weeks to 31 March 2024, the group’s overall sales rose by £635m to £12.68bn, with Royal Mail the biggest operation at £7.8bn.
The history of Royal Mail dates back more than 500 years – it was created in 1516 by Henry VIII for use by the king and his royal court. Charles I opened the service to the public in 1635.
