LONDON: CEVA Logistics UK Rose Limited, a subsidiary of French shipping giant CMA CGM S.A., has decided to drop its bid for British logistics company Wincanton plc after a competing offer emerged. CEVA had agreed to buy Wincanton for £1.2 billion in cash in January, in a deal that would have created a leading logistics…
LONDON: GXO Logistics, Inc. (“GXO”) has announced a cash offer for Wincanton Plc (“Wincanton”), a leading UK provider of supply chain solutions, valuing the company at £762 million. Wincanton shareholders will receive 605 pence in cash for each share they hold, a 26 per cent. premium over the final offer from CEVA, a rival bidder,…
LONDON, UK: CEVA Logistics, a subsidiary of CMA CGM, has increased its cash offer for Wincanton, a UK-based logistics company, by 6.67 per cent. to 480 pence per share. The new offer values Wincanton at £604.7 million on a fully diluted basis and £802.7 million on an enterprise value basis. The offer, which has been…
LONDON, UK: Wincanton Plc, a leading supply chain partner for UK business, has agreed to acquire 100% of the shares in Caledonia Bidco Limited, the holding company of Cygnia Logistics Limited from Crescent Capital for a consideration of up to £23.9 million, on a cash free, debt free basis. Founded in 1999, Cygnia Logistics has…
LONDON: Wincanton plc, the largest British third-party logistics company, has successfully extended its relationship with Morrison Supermarkets PLC. Morrisons has awarded Wincanton the management of their transport and VMU operations at Willow Green, Bridgwater, which will commence later this year. This substantial contract extension will involve the TUPE transfer of over 250 colleagues from the…