Logistics Development Group PLC - London-based Investment company formerly known as Eddie Stobart Logistics PLC - Notes that DBAY Advisors Ltd, Logistics Development's investment manager, makes an indicative proposal to CareTech Holdings PLC regarding a possible all cash offer.
DBAY on Monday says it has submitted proposal to takeover CareTech at price of 750 pence per share. "DBAY looks forward to engaging constructively with CareTech and its management team and working towards the announcement of a recommended transaction," it says.
Current stock price: 16.00p, up 1.9% on Monday
12-month change: up 20%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Logistics Dev (LDG)