Wincanton weighs bid for Eddie Stobart

Wincanton Plc said on Friday it is mulling a possible offer for Warrington-based Eddie Stobart Logistics Plc.

The news came just two days after Eddie Stobart said DBAY Advisors, its second-largest shareholder, had been granted more time to make a firm takeover offer for Eddie Stobart.

The UK takeover panel has given DBAY until October 28 either to make a buyout bid or walk away. Wincanton is required to do the same by November 15.

Eddie Stobart said in a stock exchange statement: “The board of Eddie Stobart Logistics plc notes this morning’s statement from Wincanton PLC and confirms it has granted due diligence access to Wincanton to assess the potential merits of a combination.

“No proposal has been made by Wincanton to Eddie Stobart as to the terms of any potential offer, and there can be no certainty that any offer will be made to Eddie Stobart shareholders.”

Wincanton said: “The board of Wincanton, the largest British third-party logistics company, announces that it is currently undertaking a diligence exercise on Eddie Stobart and its assets, in order to enable it to assess the potential merits of a combination.

“No proposal has been made by Wincanton to Eddie Stobart as to the terms of any potential offer, and there can be no certainty that any offer will be made to Eddie Stobart shareholders.”

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