(Alliance News) - Eddie Stobart Logistics PLC said on Thursday the UK takeover panel has granted another extension to DBAY Advisors Ltd in relation to a possible offer to be made.
Eddie Stobart said talks with DBAY over a possible offer is "ongoing". DBAY is the third largest shareholder in Eddie Stobart.
The company said the new extension states that DBAY is required by no later than 1700 GMT on Friday either to announce a firm intention to make an offer for the company or to announce that it does not intend to make an offer.
The previous deadline was 1700 GMT on Thursday, Eddie Stobart noted.
Last week, Eddie Stobart said it had received a preliminary takeover from DBAY. As discussions remain ongoing, few extensions have been granted to the company. DBAY is the third largest shareholder in Eddie Stobart.
Other potential suitors have expressed interest in Eddie Stobart, while Wincanton PLC still has until 1700 GMT on Friday to announce its intention.
Eddie Stobart Logistics shares are currently suspended from trading in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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