GXO Logistics has made a $965 million all-cash offer to acquire UK-based logistics company Wincanton, intensifying a bidding war for one of the largest logistics operators in the region. The $7.65 per share offer exceeds a previous $764.3 million bid from French rival Ceva Logistics made earlier this week.<\/p>\n

GXO’s unsolicited proposal has received backing from Wincanton shareholders who control around 34% of the company’s shares. The increased bid sent Wincanton’s stock price surging 20% as investors reacted to the escalating takeover battle.<\/p>\n

Ceva Logistics, which is owned by French shipping giant CMA CGM, raised its initial offer after Greenwich, Connecticut-based GXO expressed interest in Wincanton. Earlier this week, Wincanton’s board unanimously recommended shareholders accept Ceva’s improved $764.3 million bid. CMA and CGM have not yet commented on GXO’s higher counter offer.<\/p>\n

In making its $965 million bid, GXO highlighted Wincanton’s presence in the aerospace, utilities and industrial sectors as key motivators behind its acquisition interest. GXO CEO Malcom Wilson said Wincanton operates a “world-class business” and combining the two companies would unlock new opportunities across Europe.<\/p>\n

Founded in 1925 as a milk hauling business, Wincanton has grown into a leading provider of logistics and supply chain solutions in the UK and Ireland. The company runs over 200 sites and employs around 19,000 people across a range of industries including construction, manufacturing, e-commerce and energy.<\/p>\n

GXO described the proposed deal as a “springboard” to expand its industrial logistics services across European markets by leveraging Wincanton’s customer relationships and operational footprint. Meanwhile, the takeover would provide Wincanton customers access to GXO’s extensive logistics network across 27 countries.<\/p>\n

Analysts say GXO’s offer reflects the growing demand for large-scale logistics operators. The ongoing rise of e-commerce and the globalization of supply chains is expected to fuel further sector consolidation as companies aim to achieve size and scale. The bidding war for Wincanton signals an appetite for acquisitions by major players.<\/p>\n

Wincanton’s board of directors now faces pressure to provide an updated recommendation after receiving a second unsolicited takeover proposal in the space of months. GXO said it remained committed to engaging in further discussions as part of its effort to agree on a recommended deal with Wincanton.<\/p>\n

By leveraging their expertise and resources, Lading Logistics<\/a><\/strong> aims to provide efficient and reliable international shipping and logistics solutions for their clients.<\/p>\n","protected":false},"excerpt":{"rendered":"

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