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On 16 October 2019, Eddie Stobart Logistics plc (Eddie Stobart) announced that only one of the two bidders that were competing for its shares is still considering whether to make a firm offer for the company.
DBAY Advisors Limited and TVFB (3) Limited both had until 16 October 2019 to announce whether they were going to make a firm offer. TVFB (3) Limited, the vehicle owned by Andrew Tinkler, who was once the boss of the Stobart Group plc out of which Eddie Stobart was spun out, confirmed that it had no intention to make a bid despite the company expressing a “strong preliminary interest”.
DBAY Advisors, the private equity company which was the biggest shareholder of Eddie Stobart when it floated on AIM in 2017, has until 28 October 2019 to announce if it intends to make a firm offer. This is the second time the PUSU deadline has been extended for DBAY.
Market Tracker will continue to monitor this transaction.
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Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.
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