GXO Logistics, a leading contract logistics provider, has put forth a cash offer to acquire Wincanton, surpassing a recommended bid from CEVA Logistics UK Rose based in Ashby de la Zouch. The acquisition price values Wincanton at approximately £762 million on a fully diluted basis and £764 million on an enterprise value basis. This represents a premium of approximately 26% to the increased and final offer price per Wincanton Share of 480 pence from CEVA.
Malcolm Wilson, CEO of GXO, expressed confidence in the value of Wincanton, noting their high-quality people and diverse customer relationships. He emphasized the strategic benefits of combining GXO’s technological capabilities with Wincanton’s expertise in the UK and Ireland markets, highlighting the enhanced offering for customers of both companies. With a focus on creating value for shareholders, customers, and employees, GXO is committed to investing in superior logistics solutions and sees significant potential in this partnership.
Having a strong presence in the UK market, GXO is well-positioned to seamlessly integrate businesses and drive growth. The company’s operations support the development of UK businesses, create high-value jobs, and contribute to the communities they operate in. This acquisition aligns with GXO’s commitment to delivering innovative logistics solutions and unlocking value for all stakeholders involved.