Monday, April 15, 2024

Ashby de la Zouch logistics firm ups bid for Wincanton

Ashby de la Zouch-based CEVA Logistics UK Rose has upped its offer for Wincanton, as a competing bidder comes forward for the firm.

In a statement to the London Stock Exchange Wincanton said that its directors “continue to recommend unanimously to Wincanton shareholders the increased and final cash offer by CEVA Logistics UK Rose Limited.”

The increased offer values the entire issued and to be issued share capital of Wincanton at approximately £604.7 million on a fully diluted basis and values Wincanton at approximately £802.7 million on an enterprise value basis. The new bid represents an increase of approximately 6.67 per cent on the original offer.

Wincanton, listed on the premium segment of the Main Market of the London Stock Exchange, is a British supply chain solutions company. The Wincanton Group provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer ‘dark stores’; two-person home delivery; fleet and transport management; and network optimisation for many of the UK’s best-known companies.

With almost 100 years’ heritage, Wincanton’s approximately 20,300-strong team operates from more than 170 sites across the country, responsible for approximately 8,500 vehicles.

CEVA is a third-party logistics firm, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, CMA CGM being a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels.

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