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UK: Poundland buyout faces review

By  |  February 8, 2015

Poundland, UKs largest discount retail store said it will pay 55 million in cash for its fellow high-street discounter on Friday.

Poundland chief executive Jim McCarthy said: “This is a good deal for both businesses and will benefit customers and shareholders.

The company has warned that the proposed buyout faces scrutiny from competition regulator the Competition & Markets Authority.

“We also believe that we can improve the performance of the 99p Stores estate and generate further value for Poundland’s shareholders. We look forward to working with the CMA as it undertakes its review.”

 

Full Content: London South East

 

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