Wincanton backs £762m takeover offer from US group GXO
by Julia Kollewe from World news | The Guardian on (#6K0T8)
UK haulage firm employs 20,000 people and customers include Asda, Sainsbury's and Waitrose
Bosses at the UK haulage company Wincanton have thrown their support behind a 762m takeover offer from the US logistics business 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.
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