InPost is the target of a takeover bid by a consortium, which, reports claim, is led by Advent International, which took InPost public nearly five years ago.
The Polish e-commerce logistics giant, which owns UK parcel delivery firm Yodel, confirmed this week that it has received and is evaluating an indicative proposal.
In a statement the company said: “In view of the recent share price and trading volume development, we have received an indicative proposal regarding a potential acquisition of all shares in the company.”
InPost added that a special committee, composed of members of the supervisory board and management board, has been set up to assess the proposal.
Since taking InPost public in Amsterdam in 2021 Advent, which Sky News claims is leading the takeover, has been a minority investor in the company.
InPost is valued in excess of €6bn (£5.2bn).
In its most recent quarter, the company, which operates a major network of parcel locker networks, delivered more than 350 million parcels across European and UK markets.
InPost now operates the largest APM network in the UK, amounting to over 11,000 APMs.
The InPost UK network has expanded to nearly 17,000 out of home (OOH) points, reinforcing its position as the leading OOH network in the region.
Dan Coatsworth, head of markets at investment specialist AJ Bell, said that despite challenges to the business, InPost is an attractive take-over target.
He said: “This looks like an opportunistic bid following a poor year for the share price.
“InPost has muscled in on the UK delivery market, becoming a courier of choice for many retailers and people using resale platforms like Vinted.
“It has positioned itself as a more efficient and convenient alternative to Royal Mail, utilising a growing network of lockers and undercutting the UK rival on home delivery prices.
“A key selling point for consumers is the ability to use InPost’s lockers to send parcels without needing to print off labels – so no queuing in a shop or needing a printer at home.
“In recent years, it has bought Menzies Distribution and Yodel to strengthen its position in the UK market.
“However, the shares have suffered from a slowdown in parcel volume growth in its homeland, ongoing competition and price pressures, and a legal dispute with Polish e-commerce platform, Allegro.
“Relations have soured between the two companies amid allegations that Allegro has violated terms of a delivery agreement.
He added: “While InPost has some issues to resolve, it is a highly attractive takeover target for someone looking to get ahead in the European parcel delivery market.”
Coatsworth raised the possibility of Royal Mail owner International Distribution Services as a contender.
He said: “Now that the takeover of Royal Mail is done and dusted, it will be interesting to see what International Distributions Services does next in the parcels space.
“It has expressed a desire to roll out more lockers in the UK, and gobbling up InPost could help in this quest as well as expanding its position geographically.”
“However, there are UK competition issues to consider if it bids for the group and the fact that fixing Royal Mail is a big job to do without the hassle of integrating another business on top.”
