Contract logistics provider GXO Logistics Inc. (NYSE: GXO) said Thursday it has made a $965 million, or $7.65 per share, all-cash offer for U.K. logistics firm Wincanton, topping by 26% an offer made earlier this week by French logistics rival Ceva Logistics.
The latest step in the bidding war involving one of the U.K.’s largest logistics firms sent Wincanton’s shares soaring in London trading. Shares were up 20% from Wednesday’s close.
Wincanton’s board earlier this week agreed to an improved,...
https://www.freightwaves.com/news/gxo-offers-965-million-for-uk-logistics-firm-wincanton