Wincanton Chooses GXO Logistics Over Other Bidder
Wincanton has accepted a £762 million takeover proposal from GXO Logistics, a U.S.-based logistics powerhouse. The company also clarified that it had received a separate cash offer of 605p per share from GXO for the same shipment.
Rejection of Ceva’s Offer
Previously, Wincanton had considered a £605 million bid from Ceva Logistics, part of France’s CMA‑CGM shipping group. Today the board turned down that proposal, citing alignment with its long‑term vision.
Chairman’s Statement
- Sir Martin Read highlighted Wincanton’s strong business fundamentals, solid customer base and talented workforce.
- He praised the existing leadership team for driving positive progress and keeping the company at the forefront of logistics innovation.
- Reading stressed the board’s appreciation of GXO’s recognition of Wincanton’s hidden value and the intent to present the offer to shareholders for a final decision.
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