Eddie Stobart has confirmed it has received takeover interest from a company controlled by Andrew Tinkler, the ousted former boss of Stobart.
The truck firm said it had received a “highly preliminary expression of interest” from TVFC, a company controlled by Tinkler, who was thwarted in a bruising boardroom battle over Stobart Group last year.
“The company emphasise that there can be no certainty either that an offer will be made nor as to the terms of any offer, if made,” Eddie Stobart said. “A further announcement will be made when appropriate.”
TVFC has been told it must announce a firm intention to make an offer by no later than 5pm on 16 October.
Last year, Tinkler was ousted from Stobart after he tried to expel then-chairman Iain Ferguson out of his post and install billionaire retail magnate Philip Day instead.
Aside from Tinkler, Eddie Stobart has also been approached by major shareholder Dbay Advisors.
The takeover interest follows a controversy at the firm in which its shares were suspended and its chief executive removed after errors were found in previous financial statements.
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.