UK's Wincanton hits record high on sweetened offer from French peer
26/02/2024 08:28
** Shares in UK logistics firm Wincanton WIN.L rise 10.2%
to a record 495 pence, as CEVA Logistics, a unit of French
shipping firm CMA CGM, raises buyout offer to 604.7 mln pounds
($766.52 mln)
** The 480 pence-per-share cash offer is 6.7% higher than
original offer of 450p/shr made on Jan. 19
** If trends hold, WIN set to post biggest one-day pct gain
since Jan. 19
** Co says board recommends the offer but that it was also
approached by a unnamed potential competing bidder although it
is yet to receive a formal proposal
** Stock up ~41% in the last 12 months, as of last close
($1 = 0.7889 pounds)
(Reporting by Eva Mathews in Bengaluru)
((Eva.Mathews@thomsonreuters.com;))