InPost Soars as Advent Is Said to Be Behind Takeover Bid
TL;DR
InPost has received an indicative acquisition proposal for all its shares, leading to an 11% stock surge. A special committee will evaluate the potential transaction, with no details on bidder or price disclosed.
Tags
Advent International is looking to take over Polish parcel locker operator InPost SA, according to Sky News, sending the target’s stock up 26%.
The private equity firm, which owns 6.5% of InPost, is spearheading a consortium offering to buy the logistics firm, Sky News said Tuesday. The report followed an earlier statement from InPost that said the company had received a takeover proposal but didn’t identify the suitor.
The logistics company’s biggest shareholder is Czech investment firm PPF Group NV, while InPost founder and chief executive officer, Polish billionaire Rafal Brzoska, holds a 12.49% stake, according to the company’s website. Tuesday’s share jump increased InPost’s market value to around €7.2 billion ($8.4 billion) after an 11% gain on Monday.
Spokespeople for Advent and InPost declined to comment.
InPost operates tens of thousands of automated points offering pick-up and drop-off services for online retailers and their customers in several Western European countries in addition to Poland. The company seeks to expand further abroad amid tougher competition at home. It reported rising revenue and operating earnings in the third quarter.
“Industrial players may be a possibility,” Barclays analysts led by Marco Limite said in a note. They cautioned that any takeover requires a large cash commitment due to the company’s capex outlook.
PPF, controlled by Czech billionaire Renata Kellnerova, owns a 28.75% stake in InPost after acquiring shares from Advent in 2024. Advent further reduced its holding last year.
InPost, which trades in Amsterdam, said Tuesday it has formed a special committee to review the takeover offer. It provided no details on the price or bidder, and added there’s no assurance that this will lead to a deal.
Read More: Billionaire Kellnerova Cements Control Over Her Investment Group
InPost has been one of the most shorted stocks in Europe, with about 20% of the company’s free float out on loan, an indication of short selling interest, according to S&P Global Market Intelligence data.
The company’s shares were up 23% as of 4:16 p.m. local time. The stock is still down around 18% over the past year.
Read More: InPost Shares Surge 11% as Short Sellers Seen Beating a Retreat