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DBAY Granted Another Extension For Potential Eddie Stobart Offer

Fri, 8th Nov 2019 16:52

(Alliance News) - Eddie Stobart Logistics PLC said Friday the "put up or shut up" deadline for DBAY Advisors Ltd to make an offer for the logistics firm has been extended until Wednesday.

Eddie Stobart said talks with DBAY over a possible offer for the firm "remain ongoing", with the extension intended to "allow further time for these discussions."

After the extension, DBAY has until Wednesday to either announce a firm intention to make an offer or walk away. This is the fourth time the deadline has had to be extended.

Rival suitor Wincanton PLC still currently has until next Friday to either make an offer or announce plans not to do so.

Shares in Eddie Stobart are currently suspended in London, but last traded at 71.0 pence.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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