Angela Eagle | Jack Taylor/Getty Images Angela Eagle drops out of Labour leadership race Owen Smith will take on Jeremy Corbyn for party leadership.

Angela Eagle pulled out of the Labour leadership race on Tuesday, leaving Owen Smith to challenge Jeremy Corbyn.

Eagle, the former shadow business secretary, attracted the support of 72 MPs and MEPs, according to the Guardian, with Smith getting the backing of 90. Both candidates had enough support to get on the ballot paper, but had agreed there should only be one "unity candidate" to run against Corbyn.

"I would like to thank my own supporters for the faith that they had in me in this leadership election. We finished the first day of nominations. Owen Smith has a lead and I think that it is in the best interest of the Labour party that we now come together so that we can have one candidate," she said.

"I am announcing tonight that I am withdrawing from this race."

"I would like to congratulate Owen on coming top in this race and then going on to take on Jeremy Corbyn. We have a Labour party at the moment that is not working. We have a leader that does not have the confidence of his members of parliament."

Corbyn has lost a vote of confidence in his leadership and has seen more than 60 members of the shadow team resign, but refuses to quit.