Former Stobart boss looking to bid for struggling logistics firm

Eddie Stobart

A North West businessman who was at the centre of a bruising boardroom battle is looking to bid for struggling logistics firm Eddie Stobart Logistics.

The news that Andrew Tinkler, the former chief executive of Stobart Group, is looking to launch a bid comes days after the haulier issued a profits warning.

Mr Tinkler is said to be interested in taking part in a refinancing of the firm, which could include making an offer for it.

Andrew Tinkler

The move would see Tinkler return to a company that he ran for 10 years until 2014, when it was part of the wider Stobart Group.

The Warrington based firm issued a statement on the Stock Exchange confirming the approach.

It said: “The board of Eddie Stobart Logistics notes the recent media speculation and confirms that it has received a highly preliminary expression of interest from TVFC Limited, a company controlled by Andrew Tinkler, in relation to a possible offer to for the entire issued, and to be issued, share capital of the company.

“The company emphasis that there can be no certainty either that an offer will be made nor as to the terms of any offer, if made. A further announcement will be made when appropriate.”

The takeover bid could lead to a tug of war between Mr Tinkler’s vehicle and funds managed by DBAY Advisors, which has also said it is interested in bidding for Eddie Stobart.

DBAY bought 51 per cent of the firm from Tinkler five years ago.

Earlier this week, the firm said it anticipated profits for the year to be below the board’s predictions, adding that it was looking into a number of strategies including an equity-raise to remedy the situation. It also said it would get rid of its final dividend.

Last year Mr Tinkler was involved in an acrimonious boardroom battle at the Carlisle based Stobart Group.

His attempt to replace the firm’s chairman Iain Ferguson with his friend billionaire retail magnate Philip Day failed.

The ensuing battle led to a High Court hearing and the eventual resignation of Mr Ferguson.

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