Wincanton has reached an agreement for Ceva Logistics, a subsidiary of French shipping firm CMA CGM, to take it over in a £566.9m deal, reports Chris Tindall.
The acquisition values Wincanton at around £764.9m on an enterprise value basis, with shareholders receiving 450p per share in cash, a premium of around 52% to the closing share price on Thursday (18 January).
Ceva said the intended acquisition represented an attractive growth opportunity and a “unique opportunity to expand Ceva’s offering in the UK and to acquire complementary grocery and consumer expertise”.
