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Manx business announces £55m rescue bid

A Manx company's announced a proposed £55 million rescue bid for one of the UK's best-known logistics firm.

DBAY Investors says its DouglasBay Capital III Fund would take a 51 per cent stake in a new holding firm for Warrington-headquartered Eddie Stobart.

DBAY already has a 10 per cent stake in the road haulage company, and made an expression of interest in it in September.

Eddie Stobart's board says it's currently considering the offer.

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