Owner of UK’s Royal Mail says it has accepted a takeover offer from a Czech billionaire

LONDON (AP) — The owner of Britain’s Royal Mail says it has accepted a 3.6 billion pound ($4.6 billion) takeover offer from Czech investor Daniel Křetínský. Under the deal, Křetínský’s EP Group would buy International Distribution Services, which owns Royal Mail, for 370 pence ($4.72) per share. Including debt, the deal values IDS at 5.2 billion pounds ($6.6 billion). IDS said no major job losses were planned as part of the deal, which must be approved by shareholders. Křetínský has a vast, Europe-wide portfolio of business interests that includes stakes in Macy’s, Foot Locker and U.K. supermarket chain Sainsbury’s. A union official cautiously welcomed the deal but said it wanted more assurances.