Clipper Logistics owner GXO mulls gatecrashing £600m Wincanton deal

Clipper Logistics owner GXO mulls gatecrashing £600m Wincanton deal

The owner of Clipper Logistics is plotting to add Wincanton, another of Britain’s biggest logistics companies, to its stable of businesses in a move that would threaten a rival £600m takeover by a French competitor.

Sky News has learnt that GXO, which bought Clipper in 2022 in a deal worth close to £1bn, has approached Wincanton about a potential offer.

The move could derail an agreed deal for a logistics group which counts Asda, Sainsbury’s and Waitrose among its customers, and which employs 20,000 people across Britain.

In a stock exchange statement on Monday morning, Wincanton said it had been approached by a third party, without naming them.

Logistics industry sources said the third party was US-based GXO.

It was unclear whether a takeover of Wincanton by GXO would face serious competition hurdles.

London-listed Wincanton has already agreed a takeover by CEVA Logistics, a French industry player which has a limited UK presence.

On Monday, Wincanton said it had received an increased final offer from CEVA and that its board unanimously recommended that shareholders accept the 480p-a-share cash offer.

“Shareholders are advised to take no action at this time with regard to the approach by the potential competing bidder,” Wincanton said.

Wincanton declined to comment on Monday morning, while GXO has been contacted for comment.

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