In an update IDS said that all of the regulatory conditions around EP UK Bidco’s recommended cash offer of 370p a share had now been cleared.

This means the timetable for the offer resumed on 2 April.

“Subject to the satisfaction or waiver (as applicable) of the other conditions, it is currently expected that the offer will become or will be declared unconditional by 30 April 2025.”

The original timetable was delayed because of political unrest in Romania. 

A further update on acceptance levels stated that, as at 3.00pm on 2 April, EP UK Bidco could count more than 321m shares – representing 33.58% of IDS’ issued share capital – towards the acceptance conditions.

This includes the shares held by the entity behind EP UK Bidco – Czech billionaire Daniel Křetínský’s Vesa Equity Investment, the biggest shareholder in IDS with a 27.58% stake.

The next largest substantial shareholdings of just over or around 5% are held by RWC Partners, Columbia Threadneedle Investments, BlackRock, and Schroder Investment Management.

IDS shares are currently trading at 365.60p (52-week high: 368.00p, low: 209.82p).

Separately, a Royal Mail market research supplier in Germany has been hit by a data breach. It has not affected Royal Mail’s operations.

A Royal Mail spokesperson said: “We are aware of an incident which is alleged to have affected Spectos, a supplier of Royal Mail.

“We are working with the company to investigate the issue and establish what impact there may be regarding their data. We can confirm there has been no impact on Royal Mail operations and services continue to function as normal.”

“A Spectos investigation is ongoing as well as a review of the data published online. Royal Mail does not send any personal customer or financial data to Spectos.”