18 October 2019 09:48
Britain's biggest logistics company has entered the race to buy scandal-hit trucking firm Eddie Stobart. Wincanton, which warehouses goods for some of the world's most prominent brands, is "undertaking a diligence exercise on Eddie Stobart and its asset", it said in a short statement on Friday. A formal offer is yet to be made. The announcement raises the prospect of a bidding war with Eddie Stobart's second-largest shareholder DBAY Advisors, which was this week given more time to review the lorry company's books – but must submit an offer by Oct 28. Andrew Tinkler, the former chief executive of Stobart Group, dropped out of the running on Wednesday.