Stobart Group’s plans to partially divest its transport business, creating a new private company Eddie Stobart Logistics, has received the backing of shareholders at a general meeting today. The plan was backed by more than 96% of shareholders earlier today, and is expected to complete within ten working days. A special resolution to buy back up to 35.4 million ordinary shares as part of the transaction was also waved through with full shareholder support, attracting backing of 99.86%. The deal […]
Tesco has been drawn into the Eddie Stobart Doncaster row as drivers at the DC prepare to start a third wave of strike action tomorrow (6 December). The supermarket chain, which runs the DC’s warehousing but outsourced the transport operation with 183 drivers to Eddie Stobart in August, has made a point of not commenting on the jobs row until now. However, after Unite last week rejected the latest offer from Eddie Stobart, a spokeswoman for the chain said: “We […]
A road transport lawyer has warned that a case that saw Stobart (Ireland) Driver Services, a division of Eddie Stobart Logistics, pay compensation to 21 drivers for alleged breaches to their weekly rest periods could have an effect on decisions made in the UK.
Autologic is in talks with Stobart Group over a potential cash offer by the Cumbrian giant for the number one operator in UK automotive logistics. The Northampton-based operator, which revealed a turnover of £144.7m and a pre-tax profit of £2.1m for the year ending 31 December last month, says that there is “no certainty that an offer for the company will be made or proposed”. Stobart is required to either announce a firm intention to buy Autologic, or withdraw its […]