Bidding War Intensifies for UK's Last Independent Haulier Wincanton

US logistics giant GXO may challenge French-backed CMA CGM's £802m takeover bid, as Wincanton's shares soar.

A bidding war has erupted over Wincanton, Britain's last independent haulier, with US logistics giant GXO potentially challenging a £600m takeover by French-backed CMA CGM.
CMA CGM increased its bid from £765m to £802m to win over shareholders, now holding 35% support but needing 75% for the takeover.
GXO, which bought Clipper Logistics in 2022, has approached Wincanton about a potential offer, threatening to derail the agreed deal with CMA CGM.
Wincanton's shares surged past the 480p offer price to 504p following the news of a potential competing bid.
Wincanton, known for its blue and white lorries, started in 1925 and is the last specialist UK haulier listed on the stock market.