Royal Mail PLC (GB:IDS) has released an update.
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International Distributions Services PLC (IDS) has rejected a preliminary non-binding proposal from EP Corporate Group a.s. to acquire the company for 320 pence per share, stating that the offer undervalues IDS’s future prospects and growth potential. The IDS Board believes the offer is opportunistic, failing to reflect the company’s potential under new management and ongoing modernization. Shareholders have been advised to take no action at this time, with a firm offer deadline set for 15 May 2024.
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