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GXO Logistics (GXO) has shared an update.
GXO Logistics Inc. has made a cash offer to acquire Wincanton plc, a move that could significantly reshape the logistics industry. As part of the acquisition process, GXO has secured a sizable bridge loan from Bank of America and has garnered the support of key Wincanton shareholders, who have pledged to accept the offer, representing 34% of Wincanton’s share capital. If all conditions are met, including regulatory approvals and minimum acceptance thresholds, the deal is expected to close by the end of September 2024. This strategic move promises to deliver value to shareholders and could potentially lead to operational synergies between the two companies.
See more data about GXO stock on TipRanks’ Stock Analysis page.
