T&B bids Elim to buy up ADG
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• Tibbett & Britten moved a step closer to acquiring Applied Distribution Group for £17m with this week's issue of shares to fund the bid.
T&B made an offer for the warehousing and distribution group last week and is now holding talks with its major shareholders.
Applied Distribution's business would be integrated into Tibbett & Britten's UK nonfood consumer group. But neither company is talking about plans to integrate the work of Applied Distribution's approxi mately 3.000 drivers with Tibbett & Britten's 5,000.
The bid from T&B comes three months after Applied Distribution said it was in takeover talks after profits fell from £1.5m to £280,000.