Wincanton Archives - The Loadstar Making sense of the supply chain Fri, 01 Nov 2024 16:20:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 UK regulator delays GXO’s Wincanton takeover, due to ‘competition concerns’ https://theloadstar.com/uk-regulator-delays-gxos-wincanton-takeover-due-to-competition-concerns/ https://theloadstar.com/uk-regulator-delays-gxos-wincanton-takeover-due-to-competition-concerns/#respond Fri, 01 Nov 2024 12:35:43 +0000 https://theloadstar.com/?p=284020 The UK’s Competition and Markets Authority (CMA), the country’s chief competition regulator, has delayed GXO’s takeover of Wincanton.
The CMA said today it had completed its ‘Phase 1’ investigation into the deal and concluded that it “could reduce competition in the supply of mainstream contract logistics services in the UK”.
GXO has been given five working days to “submit proposals to address the CMA’s concerns.
“If suitable proposals are not submitted, the CMA ...

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]]> https://theloadstar.com/uk-regulator-delays-gxos-wincanton-takeover-due-to-competition-concerns/feed/ 0 284020 Limp UK truck electrification rates hold back decarbonisation https://theloadstar.com/limp-uk-truck-electrification-rates-hold-back-decarbonisation/ https://theloadstar.com/limp-uk-truck-electrification-rates-hold-back-decarbonisation/#respond Tue, 17 Sep 2024 11:30:29 +0000 https://theloadstar.com/?p=280457 Logistics chains are proving a liability for UK organisations trying to meet their 2030 climate goals, according to a survey by contract logistics provider Wincanton, with 83% of respondents saying logistics plays a ‘key’ role in future decarbonisation plans.
More than half (55%) of respondents said they were not reducing emissions in their logistics fleet, with around 42% telling Wincanton researchers they do not know how to achieve the targets.
Similarly, 54% ...

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]]> https://theloadstar.com/limp-uk-truck-electrification-rates-hold-back-decarbonisation/feed/ 0 280457 Ecommerce driving contract logistics growth, but there is a threat https://theloadstar.com/ecommerce-driving-contract-logistics-growth-but-there-is-a-threat/ https://theloadstar.com/ecommerce-driving-contract-logistics-growth-but-there-is-a-threat/#comments Tue, 28 May 2024 12:33:51 +0000 https://theloadstar.com/?p=272942 The global contract logistics market reported positive trends last year, and is expected to continue this upward trajectory, according to Transport Intelligence (Ti) – but challenging external conditions could pose a threat to growth. 
A recent Ti report found the global contract logistics market grew by 3.5% in real terms in 2023, up from 2022’s 3% growth, which Ti said signalled a return to “a more normalised, pre-pandemic state of demand ...

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]]> https://theloadstar.com/ecommerce-driving-contract-logistics-growth-but-there-is-a-threat/feed/ 1 272942 GXO completes its acquisition of Wincanton https://theloadstar.com/gxo-complete-the-acquisition-of-wincanton/ https://theloadstar.com/gxo-complete-the-acquisition-of-wincanton/#respond Mon, 29 Apr 2024 14:08:45 +0000 https://theloadstar.com/?p=270560 PRESS RELEASE
On 29 February 2024, GXO announced its firm intention to make a cash offer to acquire the entire issued and to be issued share capital of Wincanton (the “Acquisition”) for an offer price of 605 pence in cash per Wincanton Share (the “GXO Offer”). On 1 March 2024, the board of Wincanton announced the Wincanton Directors’ intention to recommend the GXO Offer.
The scheme document in respect of the Acquisition ...

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]]> https://theloadstar.com/gxo-complete-the-acquisition-of-wincanton/feed/ 0 270560 Wincanton expands Scottish operations with new distribution centre https://theloadstar.com/wincanton-expands-scottish-operations-with-new-distribution-centre/ https://theloadstar.com/wincanton-expands-scottish-operations-with-new-distribution-centre/#respond Tue, 19 Mar 2024 16:51:34 +0000 https://theloadstar.com/?p=267603 PRESS RELEASE
Deal with Knight Property Group is one of Scotland’s largest industrial transactions in the past year
Wincanton, a leading supply chain partner for UK business, today announces that it is expanding its Scottish operations, with establishment of a new distribution centre, strategically located in the heart of Scotland’s ‘golden triangle’.
The company has secured a 15-year lease for the brand new 126,960 sq ft unit at the award-winning Belgrave Logistics Park, ...

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]]> https://theloadstar.com/wincanton-expands-scottish-operations-with-new-distribution-centre/feed/ 0 267603 Ceva Logistics pulls out of race with GXO to acquire Wincanton https://theloadstar.com/ceva-logistics-pulls-out-of-race-with-gxo-to-acquire-wincanton/ https://theloadstar.com/ceva-logistics-pulls-out-of-race-with-gxo-to-acquire-wincanton/#respond Tue, 05 Mar 2024 13:25:47 +0000 https://theloadstar.com/?p=266536 Ceva Logistics has formally given up on its plan to acquire the UK’s Wincanton.
The CMA CGM subsidiary upped its all-cash offer last month to an enterprise value of £802.7m ($1.01bn) after GXO expressed interest in the business. But Wincanton’s board last week recommended shareholders accept GXO’s £6.05 per share – giving it an enterprise value of £960m.
Ceva’s improved bid did allow it to make a counter offer by close of ...

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]]> https://theloadstar.com/ceva-logistics-pulls-out-of-race-with-gxo-to-acquire-wincanton/feed/ 0 266536 TIM: Britain For Sale: The country’s biggest firms are being picked off ‘one by one’ as foreign predators pounce https://theloadstar.com/tim-britain-for-sale-the-countrys-biggest-firms-are-being-picked-off-one-by-one-as-foreign-predators-pounce/ https://theloadstar.com/tim-britain-for-sale-the-countrys-biggest-firms-are-being-picked-off-one-by-one-as-foreign-predators-pounce/#respond Sun, 03 Mar 2024 20:20:14 +0000 https://theloadstar.com/?p=266323 THIS IS MONEY reports:
First it was Wincanton, then Currys and now Direct Line. Companies at the heart of the UK economy are being preyed on by foreign suitors – and it could be just the start.
As global dealmaking comes back with a bang after a long hiatus, private equity barons and cash-rich corporations see listed British businesses as a bargain.
And some observers fear the worst. ‘The situation is looking structural ...

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]]> https://theloadstar.com/tim-britain-for-sale-the-countrys-biggest-firms-are-being-picked-off-one-by-one-as-foreign-predators-pounce/feed/ 0 266323 Ceva beaten to the punch as Wincanton accepts GXO takeover bid https://theloadstar.com/ceva-beaten-to-the-punch-as-wincanton-accepts-gxo-takeover-bid/ https://theloadstar.com/ceva-beaten-to-the-punch-as-wincanton-accepts-gxo-takeover-bid/#respond Fri, 01 Mar 2024 11:25:50 +0000 https://theloadstar.com/?p=266273 The board of UK contract logistics operator Wincanton this morning announced it had accepted GXO’s £6.05 per share takeover bid.
Wincanton said the bid values it at approximately £762m on a fully diluted basis and at an enterprise value of approximately £960m (IFRS16 basis), and represents a 26% premium on an improved offer from CMA CGM-owned Ceva Logistics.
“The Wincanton directors are pleased that the public offer process, triggered by their recommendation ...

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]]> https://theloadstar.com/ceva-beaten-to-the-punch-as-wincanton-accepts-gxo-takeover-bid/feed/ 0 266273 Wincanton bidding war begins as GXO steps in with better offer than Ceva https://theloadstar.com/wincanton-bidding-war-begins-as-gxo-steps-in-with-better-offer-than-ceva/ https://theloadstar.com/wincanton-bidding-war-begins-as-gxo-steps-in-with-better-offer-than-ceva/#respond Thu, 29 Feb 2024 13:16:38 +0000 https://theloadstar.com/?p=266235 A fully fledged bidding war over UK contract logistics operator Wincanton erupted this morning when GXO submitted a formal bid that represented a 26% increase on CMA CGM-owned Ceva’s updated offer.
GXO’s offer price of £6.05 per share values Wincanton at approximately £762m on a fully diluted basis, and approximately £764m on an enterprise value basis – which compares with Ceva’s improved offer  this week of £4.80 per share.
A GXO London ...

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]]> https://theloadstar.com/wincanton-bidding-war-begins-as-gxo-steps-in-with-better-offer-than-ceva/feed/ 0 266235 GXO is planning counter offer for Wincanton to see off Ceva https://theloadstar.com/gxo-is-planning-counter-offer-for-wincanton-to-see-off-ceva/ https://theloadstar.com/gxo-is-planning-counter-offer-for-wincanton-to-see-off-ceva/#respond Tue, 27 Feb 2024 13:49:11 +0000 https://theloadstar.com/?p=266050 UK contract logistics operator Wincanton has confirmed that rival player GXO is behind a possible counter offer to the already accepted takeover bid from Ceva Logistics.
But it told the London Stock Exchange: “Although GXO has indicated it is considering making a proposal for a cash offer, as of the date of this announcement, it has not provided the board of Wincanton with any formal proposal.
“If any such proposal is provided ...

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