Autologic prepares for Stobart takeover

2012-07-30T09:58:00+01:00

Transport@Autologic Holdings plc - Transporter 2

Trading in shares in Autologic will be suspended on 9 August as Stobart Holdings, a wholly-owned subsidiary of Stobart Group, completes its acquisition of the firm.

On 18 June Stobart made an offer of £12.4m- the equivalent of 20p per share - for the automotive logistics firm. Both parties had been in talks since 24 May.

Stobart said at the time it wished to acquire Autologic as it could enter the automotive logistics sector in a market-leading position.

It is looking to use its Stobart Rail infrastructure to reduce empty running on the Autologic fleet and use it to expand further into Europe.

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