Steinhoff bumps up Poundland bid after hedge fund move

Extra 5p per share gives US activist investor Elliott Advisors a 'pretty modest victory'

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(Image credit: CARL COURT/AFP/Getty Images)

South African retail consolidator Steinhoff has given ground to an activist investor in its pursuit of discount retailer Poundland – but not an awful lot.

The firm yesterday upped its buyout offer for the discount store by 5p per share, effectively adding £13m to the previously agreed price tag to a little more than £610m.

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