If shareholders do not back a rescue takeover bid by Dbay Advisors, Eddie Stobart could risk plummeting into administration or becoming insolvent, the private equity firm claims ahead of tomorrow’s (Friday 6 December) shareholder vote.
In response to this, rival bidder Andrew Tinkler, former boss of Stobart Group has said that his offer would increase to £80million, as opposed to the previous £70million offered, sources confirmed.
Private equity firm, Dbay Advisors, is prepared to inject a £55million loan of new money, taking control of 51% of Eddie Stobart’s operating business.
The board of Eddie Stobart has urged its shareholder continuously to provide backing to Dbay Advisors’ offer, or risk going bust.
