Wincanton bosses again US takeover quite than sell-off to French

On Mar 2, 2024

Updated: 21:50, 1 March 2024

Bosses at Britain’s final impartial haulier have ditched plans to promote to a French suitor and are as a substitute backing a takeover by the Americans.

The Wincanton board yesterday accepted a 605p-a-share supply price £762m from Connecticut-based GXO Logistics.

Company administrators had beforehand supported a 480p-a-share supply from French delivery group CMA CGM that valued it at £605m. But they modified horses after GXO got here in with its greater supply.

Driving force: Wincanton is named after the Somerset town where it started delivering milk in 1925

Driving drive: Wincanton is known as after the Somerset city the place it began delivering milk in 1925

Wincanton, which is known as after the Somerset city the place it began delivering milk in 1925 and is thought for its blue-and-white vehicles, is the newest London-listed firm to be snapped up by international bidders.

Wincanton chairman Sir Martin Read stated: ‘We have lengthy been clear that Wincanton is a superb enterprise with a compelling technique, sturdy buyer relationships and glorious individuals.’

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