UK logistics firm Wincanton jumps after $718.4 mln offer from CMA CGM unit
19/01/2024 08:41
** Shares of supply chain partner for British business
Wincanton WIN.L up 46.8% at 436.3p, among top gainers across
London stocks
** French shipping group CMA CGM's unit CEVA Logistics says
it would buy Wincanton in an all-cash deal worth 450p per share,
or nearly 566.9 mln pounds ($718.43 mln)
** Offer price represents a premium of 54.4% to stock's last
close
** Stock price is at its highest since July 2021
** Co says its board intends to unanimously recommend that
its shareholders vote in favour of the deal
** Acquisition to be done by CEVA through a newly formed
entity CEVA Logistics UK Rose
** As of last close, stock down 5.8% in last 12 months
($1 = 0.7891 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru)
((DhanushVignesh.Babu@thomsonreuters.com;))