EP Corporate Group, a.s. submitted a non-binding indicative proposal to acquire remaining 72.4% stake in International Distributions Services plc (LSE:IDS) for £2.2 billion on April 9, 2024. Under the terms of agreement, EP Corporate Group is paying 320 pence per share for the acquisition of International Distributions Services plc. There can be no certainty that any firm offer for IDS will be made, nor as to the terms on which any firm offer might be made. IDS shareholders are advised to take no action in relation to the Possible Offer. Ed Peel, James Robertson, Justin Anstee, and Jack Williams of BofA Securities and Mark Sorrell, Eduard van Wyk, and Owain Evans of Goldman Sachs International acted as financial advisors to IDS. On April 11, 2024, The transaction was cancelled because the board concluded that the offer significantly undervalues IDS and its future prospects accordingly, the Board unanimously rejected the proposal. As of May 15, 2024, the Board of IDS confirms that it has received a revised non-binding proposal from EP Corporate Group for £3.7 pounds per IDS share comprised of: (i) cash consideration of 360 pence per IDS share; (ii) the final dividend in respect of the Financial Year ended 31 March 2024, which is expected to be 2 pence per IDS share and which is expected to be paid in September 2024; and (iii) a special dividend of 8 pence per IDS share which would be conditional upon completion of the transaction. The Proposal values the entire issued share capital of IDS at approximately £3.5 billion. EP Group has confirmed that the Proposal is not subject to any financing pre-condition. EP Group has entered into a confidentiality agreement with IDS pursuant to which EP Group and Vesa Equity have agreed to be subject to customary standstill restrictions during the course of the offer period. Accordingly, the Board has agreed to an extension of the relevant 'put up or shut up' deadline until May 29, 2024.

Alisdair Gayne, Nicola Tennent, Aamir Khan and Philipp Gillmann of Barclays Bank PLC, acting through its Investment Bank; Ed Peel, James Robertson, Justin Anstee and Jack Williams of Merrill Lynch International; and Eduard van Wyk, Mark Sorrell and Owain Evans of Goldman Sachs International acted as financial advisor to International Distributions Services. Slaughter and May acted as legal advisor to International Distributions Services. David Higgins, Dipak Bhundia, Jiri Peterka, and Matthew Sinclair-Thomson of Kirkland & Ellis International LLP and Neel Sachdev and Stefan Arnold-Soulby of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisors to EP Corporate.