Deutsche Post yesterday has reached an agreement to acquire UK Mail Group for cash, valuing it at £243 million.

Deutsche Post hopes the deal will deliver significant synergy benefits and strengthen its position in the British mailing market.

Deutsche Post will pay 440 pence per UK Mail share, which represents a 43.1 per cent premium over UK Mail’s Tuesday share price, it said.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.