• Swindon & Wiltshire M&A, deals
• Monday September 9 2024
• Author Name: Peter Davison

CMA to investigate GXO’s £762 million takeover of logistics firm Wincanton

The £762 million takeover of Chippenham-headquartered Wincanton by logistics giant GXO is to be investigated by the Competition and Markets Authority.

The CMA said it was considering whether the merger could result in “a substantial lessening of competition” in the logistics market.

It is inviting interested parties to submit comments before September 20 to GXO.Wincanton@cma.gov.uk It will then decide whether to launch a full investigation.

Wincanton was first the subject of a takeover bid in January this year, with French group CEVA Logistics offering shareholders £604.7 million before the US-based GXO logistics came in with a higher offer in February.

The deal completed in April, but Wincanton said it would continue to be run as a separate company while the CMA investigated the merger.

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