Vanguard Group's New Stake in International Distribution Services

The Vanguard Group, Inc. disclosed its recent dealings with International Distributions Services plc, revealing a significant position in the company. As of April 23, 2024, Vanguard holds around 3.58% of the firm, with a total of 34,314,232 shares. This disclosure came in compliance with Rule 8.3 of the Takeover Code, necessitated by the ownership exceeding 1% of the relevant securities.

Through a series of transactions, Vanguard’s activities on April 23 included both purchases and sales of shares. Specifically, the group purchased 17,836 shares and sold 8,665 shares, all priced at 2.80 GBP per unit. There were no reported dealings in cash-settled or stock-settled derivatives, and the firm confirmed the absence of any indemnity and dealing arrangements that might influence their dealing decisions.