The founder of Xpediator, a London-listed logistics company, is hatching a plan to take it private.
Sky News understands that Stephen Blyth, who stepped down as Xpediator's chief executive in 2020, has assembled financial backing for a takeover offer. The identity of Mr Blyth's backers and the price at which a bid would be pitched were unclear on Monday. Xpediator's shares have slumped by a quarter during the last 12 months, leaving the AIM-listed group with a market capitalisation of just £43m.Xpediator is a freight management specialist whose operations include a fashion retail logistics arm.
It has been buffeted by turbulence in its boardroom as well as the economy, and currently has both an interim chair and an interim chief executive.
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