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Poundland's 99p deal gets green light

Poundland's takeover of rival 99p Stores has been given the green light by regulators.
August 27, 2015

What's the difference between 99p and £1? Quite a lot, according to the Competition and Markets Authority. The watchdog has given the green light to Poundland's (PLND) proposed takeover of its closest rival 99p Stores, which was announced in February 2015.

IC TIP: Hold at 343p

The decision brings to a close months of speculation for Poundland shareholders as the regulator debated whether the deal would reduce choice for consumers and competition in the marketplace. Poundland has continued to defend the transaction throughout the review period on the very reasonable basis that it competes in a much larger retail market place than just fixed-price discounting. The group also says the enlarged business will offer better choice, value and service for customers.

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