News blog
Autologic
- BY: Andrew Hore |
- POSTED: 02/07/2012 |
Automotive support services provider Autologic Holdings has agreed a 20p a share cash bid from Stobart Group Ltd.
That is 74% higher than the share price prior to the commencement of the offer period.
The bid values Autologic at £12.4m. Net debt was £5.1m at the end of 2012, while net assets were £30.4m – although that includes goodwill of £21.5m.
Stobart wants to acquire Autologic in order to expand its range of services by entering the automotive logistics market. Stobart also thinks that its greater vehicle and parts buying power will help Autologic. It also believes that it will be able to reduce the level of ‘empty running’ by Autologic vehicles.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2012_33.pdf
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