GXO is understood to be in the throes of making a bid for Wincanton which could knock CEVA Logistics’ offer off the table.
In a statement, Wincanton said: “Although GXO has indicated that 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 relating to a possible offer, including as to terms or price. If any such proposal is provided by GXO, the Board of Wincanton will carefully consider its terms, in conjunction with its advisers.”
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