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Suitors abound but will Hays wed?
Page 7
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DEUTSCHE POST and Platinum Equity are being tipped as the final two potential buyers of Hays Logistics, which the Hays group has been keen to sell for several months.
The sale has taken much longer than expected but analysts this week said Hays wanted the sale to be completed within the next four weeks. The logistics company is expected to sell for around £250m.
Deutsche Post is believed to have come back into the running after entering the bidding at the second and final stage.
John Manners-Bell, analyst with consultant Transport Intelligence, says: "It is more likely to be a private equity buyer than a trade buyer, although Deutsche Post would be the most likely bidder from within the business.
"Even with Securicor Omega they would still like a larger share of the UK market, and the purchase of Hays would also put them in second place in France. But my gut feeling is still that it will end up being a private equity buyer."
Hays shares, which were worth more than £4 at one point in 2001, were trading at around 110p on Monday Earlier this year they could be bought for under 80p.
A spokesman for Hays adds: -There are negotiations underway with interested parties but that's as much as I can tell you."
A company insider adds that it is unlikely it will be a rival logistics operator that buys the firm.