Eddie Stobart potential bidder granted more time

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.

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.