Wincanton has told Eddie Stobart Logistics’ stakeholders to “take no immediate action” following news that ESL has agreed a conditional sale to private equity firm DBAY Advisors. Wincanton is still running the rule over a possible merger of its own with ESL and undertaking a due diligence exercise on its assets. Under the terms of the sale proposal, DBAY would acquire a 51% stake of ESL, with existing shareholders having a 49% interest. It is also proposing an injection of […]
A very quiet week on the Stock Exchange for transport-related shares – ahead of City Link’s numbers tomorrow (15 March). All eyes will be on Rentokil’s parcels arm to see if it posts a full-year profit. But it hasn’t stopped a rather telling trend in the past week…
Transport firms are riding the current Stock Market bubble. This week the FTSE 100 hit its highest level since October 2007 (6,755 on Monday to be precise). While none of the six operators in the MT Tracker basket of transport shares are anywhere near making the FTSE 100, or the FTSE 250 for that matter, the total value of the basket hit a record high today of 1,842.
Kingfisher Group has awarded logistics contracts for B&Q to XPO Logistics and Wincanton following a strategic review of its supply chain.