Deals
Steinhoff Weighs Options After Poundland Rejects Approach
- Poundland shares slide in London after Britain’s Brexit vote
- Too hard to call whether Steinhoff will make new bid: analyst
This article is for subscribers only.
Steinhoff International Holdings NV said it’s considering its position after U.K. discount retailer Poundland Group Plc rejected its takeover proposal, raising the possibility of another failed foray in Europe.
Steinhoff needs to consider factors including Britain’s decision to leave the European Union, the South African company said in a brief statement Friday. A day after the initial approach was disclosed on June 15, Poundland forecast a drop in first-half same-store sales. Its shares fell 10 percent in London Friday after the Brexit vote.