Ceva logistics have agreed to buy Wincanton.
XPO have come in with a higher offer.
Race to the bottom still alive and well as one or the other will pay way to much for wincantons
Also Sainsbury’s drives are voting to strike if sainsbury swaps transport over to them
It’s GXO that have allegedly put in a counter bid, different company to XPO just owned by the same American investment companies
Re Sainsbury, unions left it a bit late, as some depots have already TUPE’d across to Wincanton.
I meant to write GXO.
GXO have outbid Ceva by nearly a £100 million,Wincanton shareholders who originally accepted the Ceva deal in principle have now got the vote on this before the 8th of March.
Ceva have pulled out leaving GXO
to buy it.
Looks like the GXO buyout is still proceeding.
The Yanks are taking over. You already call yourselves ‘truck’ drivers now you’ll be paid in dollars and call each other ‘dude’.
They now got it.
It’s been put on hold
That’s rich as they’ve allowed Culina to gobble up everyone else, allowing them to become some of heinous monolithic titan.
GXO , must of had a bad cough but no brown envelope to give the MMC
Culina aren’t that big, the one acquisition of note was on the verge of going bust for a few years prior to them buying it.
GXO + Wincanton together is 30% of the market share, the CMA investigate over 25% as standard.
I hope it gets ■■■■■■ off, would be a problem for the industry and those working in it.
Both are on the race to the Bottom lol