Legal Business

‘Natural choice’: long relationships see Freshfields and Linklaters bag roles on Poundland bid

Both Linklaters and Freshfields Bruckhaus Deringer scored lead roles on an attempt by South Africa’s Steinhoff International Holdings to take over British retailer Poundland. Steinhoff, a $22bn homeware and clothing conglomerate, made a bid to take over Poundland, which it already had a 23.26% stake in. At press time, Poundland had rejected Steinhoff’s initial bid, but Steinhoff upped its holding in the UK discount retailer to 23.52%.

Steinhoff already owns PEP, which sells discount clothing, footwear and homeware across 1,800 stores in Africa, as well as UK chain Harveys Furniture.