“Further to recent press speculation following the Company's announcement of this morning, the Board of Wincanton confirms that the approach referenced in such announcement was received from GXO Logistics, Inc. ("GXO") for access to due diligence information in accordance with Rule 21.3 of the Takeover Code in order to enable GXO to evaluate a possible offer for the Company.
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.
There can be no certainty that an offer by GXO will be made for the Company, nor as to the terms on which any offer might be made. Accordingly, shareholders are advised to take no action at this time with regard to the approach by GXO.
The Wincanton Directors continue to recommend unanimously to Wincanton shareholders the increased and final cash offer by CEVA Logistics UK Rose Limited, a wholly-owned subsidiary of CEVA Logistics S.A., itself a subsidiary of CMA CGM S.A., announced today. That recommendation has not been withdrawn, qualified or modified.
In accordance with Section 4(c) of Appendix 7 of the Takeover Code, the Panel on Takeovers and Mergers will announce the deadline by which GXO must clarify its position in relation to Wincanton.
A further announcement will be made as appropriate.
This announcement has been made without the consent of GXO.”
