Wincanton Archives - Maritime Shipping News

GXO acquisition of Wincanton draws caution and praise from ratings agencies

12 March 2024

The two key ratings agencies have weighed in with a cautionary outlook on the offer by GXO to acquire U.K.-based contract logistics company Wincanton.

Neither Moody’s nor S&P Global Ratings reduced its credit rating on GXO (NYSE: GXO). At Moody’s, the Ba1 corporate rating is one notch below investment-grade. The S&P Global (NYSE: SPGI) rating of BBB- is the lowest investment-grade rating.

But both agencies put GXO on the equivalent of a watch list because of the additional debt the company will...

https://www.freightwaves.com/news/gxo-acquisition-of-wincanton-draws-caution-and-praise-from-ratings-agencies

Wincanton board approves GXO’s competing buyout proposal

1 March 2024

The board of U.K. logistics firm Wincanton said Friday it unanimously recommended that shareholders approve GXO Logistics Inc.’s (NYSE: GXO) $965 million all-cash offer to acquire the company.

The Wincanton board withdrew its recommendation of Ceva Logistics S.A.’s lower-priced offer for the company. Based on current foreign exchange rates, the GXO offer is priced at $7.75 a share, while the CEVA offer is priced at $6.07 per share, or approximately $764 million.

“The Wincanton directors are...

https://www.freightwaves.com/news/wincanton-board-approves-gxos-competing-buyout-proposal

Wincanton sees profits rise as ‘the Adrian Colman era’ comes to an end

16 May 2019

Wincanton raised its profit at around the same rate it lost revenue during its fiscal year 2018.
Despite a 2.6% decline in turnover, to £1.14bn (£1.17bn a year earlier), profits (recorded as ebitda) climbed 2.9% to £66.7m.
Outgoing chief executive Adrian Colman said “key areas” had grown, including retail general merchandise.
“In the second half of the year, we secured substantial new contract wins that should position the group well in the coming periods,” …

The post Wincanton sees profits...

https://theloadstar.com/wincanton-sees-profits-rise-as-the-adrian-colman-era-comes-to-an-end/