WINCANTON yesterday abandoned plans to make a possible offer for its peer Eddie Stobart Logistics, citing concerns it had over the trucking firm's finances.

Earlier this month the company said it was continuing to scope out a merger with Eddie Stobart.

However chairman Martin Read said: "Wincanton will continue to explore acquisition opportunities to complement its organic growth but we owe it to our shareholders and other stakeholders not to take disproportionate risks."

(c) 2019 City A.M., source Newspaper