Thursday 21st Nov 2019 - Logistics Manager Magazine

Wincanton ‘assessing merits’ of Eddie Stobart combination

Wincanton is currently performing due diligence on Eddie Stobart, to “assess the merits of a potential combination”.

In a statement to investors Wincanton said it was: “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.”

Eddie Stobart, which over the past two months has warned on profits; parted ways with former chief executive Alex Laffey and received buy-out interest from asset management DBAY, confirmed 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,” it said.

By Christopher Walton