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Freshfields advises GXO Logistics on its £762 million recommended cash offer for Wincanton plc
Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) advises long-standing client NYSE-listed GXO Logistics, Inc. (GXO) on its all-cash recommended public takeover offer for the entire issued share capital of Wincanton plc, which is proposed to be implemented by way of a UK scheme of arrangement following a competitive process. The offer was originally made on a unilateral basis which was subsequently recommended by the board. The acquisition is expected to close in mid-Q2 2024 and is conditional on the receipt of regulatory clearances and the requisite approval of the Wincanton shareholders.
GXO is the largest pure-play contract logistics provider in the world and an innovator in the logistics industry, and is now independently listed on the New York Stock Exchange with a market capitalisation of US$6.2 billion. Wincanton plc is a leading British supply chain solutions company and provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer ‘dark stores’; two-person home delivery; fleet and transport management; and network optimisation for many of the UK’s best-known companies. It is listed on the premium segment of the Main Market of the London Stock Exchange.
The Freshfields team was led by partners Rhys Evans and Piers Prichard Jones and supported by partner Sebastian Fain.
