GXO Logistics announced Monday a firm offer to acquire U.K.-based Clipper Logistics. Terms of the offer are unchanged and if successful, GXO would acquire Clipper for approximately $1.3 billion in a cash and equity transaction.
Under the proposed deal, Clipper (CLG.L.EB) shareholders will receive 920 pence ($12.33) per share, 75% of which would be distributed in cash with the remainder coming from newly issued shares of GXO stock.
GXO (NYSE: GXO) previously announced Feb. 20 that Clipper had...
https://www.freightwaves.com/news/gxo-makes-firm-offer-for-clipper-logistics