Eddie Stobart Logistics (ESL) has hit back at Wincanton’s claims this week that it has withdrawn its interest in bidding for the company due to a lack of financial information, insisting it gave Wincanton “extensive due diligence commensurate with its status as a strategic competitor”. Wincanton withdrew its interest in bidding for ESL yesterday (25 November), citing concerns about ESL’s “financial performance and ongoing liquidity”. In a Stock Exchange announcement, Wincanton said it had not received “full disclosure of the information […]
Eddie Stobart Logistics (ESL) has extended its reach in the bulk sector after clinching a five year deal with Lallemand Biofuels and Distilled Spirits (LBDS).
Wincanton has reported continued improvement in revenues and profitability since the initial impact of the pandemic and, following a period of recovery and stabilisation, said it had returned to growth in Q3 of the financial year.
Former Eddie Stobart chief Andrew Tinkler has confirmed his intention to bid for Eddie Stobart Logistics (ESL) just hours after Wincanton withdrew from the fray and is warning that a rival bid from DBAY Advisors is not in the interests of ESL shareholders.