UK haulage firm employs 20,000 people and customers include Asda, Sainsbury’s and Waitrose
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Bosses at the UK haulage firm Wincanton have thrown their support behind a £762m takeover offer from the US logistics company GXO and dropped their backing for a rival bid.
Wincanton said on Friday that directors intended to recommend unanimously an offer of 605p a share made by GXO on Thursday. In the latest twist in the takeover battle, the Wincanton board withdrew their backing for an “increased and final cash offer” from Marseille-based CEVA Logistics at 480p a share, announced earlier this week.
Continue reading…UK haulage firm employs 20,000 people and customers include Asda, Sainsbury’s and WaitroseBusiness live – latest updatesBosses at the UK haulage firm Wincanton have thrown their support behind a £762m takeover offer from the US logistics company GXO and dropped their backing for a rival bid.Wincanton said on Friday that directors intended to recommend unanimously an offer of 605p a share made by GXO on Thursday. In the latest twist in the takeover battle, the Wincanton board withdrew their backing for an “increased and final cash offer” from Marseille-based CEVA Logistics at 480p a share, announced earlier this week. Continue reading…