Warrington-based Eddie Stobart Logistics plc said DBAY Advisors, its second-largest shareholder, has been granted more time to make a firm takeover offer for the haulage company.

Eddie Stobart added however that its former CEO Andrew Tinkler had abandoned any buyout interest. 

The UK takeover panel has given DBAY until October 28 either to make a buyout bid or walk away, Eddie Stobart said.

DBAY had been required to make an offer by 1600 GMT on October 16.