Liberum’s Adam Tomlinson said Poundland investors should not expect any further improvement from Steinhoff.
“The question is is this a must-have asset? Poundland hasn’t been doing particularly well. We are surprised that the offer was raised and it will not go higher, given Steinhoff has stated that it’s final.
“For Poundland shareholders this is a very good opportunity to crystallise value ahead of when it may be achieved if Poundland stays as a standalone entity. Today’s update cements that and shareholders should take the offer.”
Elliott Advisors, the UK subsidiary of the US group founded by Republican Party donor Paul Singer, has a history of shaking up companies. Last year it ousted top management at Alliance Trust.
