U.S. activist investor Elliott Capital Advisors LP has amassed a 13.2 percent stake in British discount chain Poundland Group Plc, according to a UK regulatory filing on Thursday.
On Wednesday, Poundland agreed to be bought by South African retailer Steinhoff International Holdings NV for about $800 million, giving Steinhoff more than 900 shops in Britain, Ireland and Spain. It is the biggest takeover of a listed British company since a vote on June 23 to leave the European Union.
(Reporting by Rama Venkat Raman in Bengaluru; Editing by Richard Chang)
Motive? I can't imagine anybody buying at 224 knowing they'll have to sell at 222 in a few weeks time!
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