By Nigel Somerville | Tuesday 26 November 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Yesterday came bad news for shareholders in AIM-listed Eddie Stobart Logistics (ESL) in that Wincanton pulled out of making a rescue offer. Today we learn that the former boss of Eddie Stobart Limited is offering an alternative rescue plan to the one from DBAY which would surely leave the existing equity almost worthless. Apparently the Tinkler deal is considerably more advantageous to ESL's shareholders and also its lenders and that his company, TVFB, believes that operating margins and growth as per the levels when Tinkler stepped down as CEO can be restored. So that’s alright then!
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