Stobart Group is in talks to take over Autologic Holdings, the car transport specialist.
Autologic made an operating profit of £2.3 million last year, on sales of £144.7m. In a statement, it confirmed that it was in talks with Stobart regarding a possible cash offer, but said there could be no certainty that an offer could be made.
Autologic shares have risen from 11.5p before to the bid to 17.5p.
Stobart has until 5pm on 21st of June to decided whether it will proceed with an offer.
* Stobart Group, has launched a new service that will link members of the public and businesses direct to a barrister without needing to employ a solicitor.
Stobart Barristers, which offers access to a UK-wide network of specialist barristers for any area of law, uses a pricing model under which its clients agree and pay a fixed-fee through a ‘pay-as-you-go’ model during the litigation process.
The new division, headed by the group’s legal director Trevor Howarth, has been formed following Stobart’s decision to employ its own barristers without a solicitor in 2008, a move which has created significant savings on the company’s annual legal fees.
Overall, Stobart says that its fixed fee model of delivering barrister’s services will be up to 50 per cent cheaper than if provided via a solicitor.