Eddie Stobart in talks to buy logistics provider for £50m

AIM-listed Eddie Stobart said on Thursday that it is in talks regarding the potential acquisition of a logistics service provider for around £50m.

The company, which owns Southend airport, said the business it’s looking to acquire has operations that are complementary to its existing offering.

"There can be no certainty that the potential acquisition will be agreed or will complete successfully," it said. However, if a deal were to take place, the consideration would be funded by a mix of debt and equity and the transaction would be earnings-enhancing in the first full year of ownership.

At 1500 BST, the shares were down 3.8% to 238.50p.