The battle for control over Wincanton has seen GXO and Ceva Logistics, the latter being under the French Cma Cgm umbrella, exchange a series of multimillion-euro bids. Ceva made the initial bid in January 2024, which was recommended by the management of the British firm. However, GXO stepped in, doubling the share value of Wincanton recorded in January. On February 26, Ceva made what it called its final offer, raising its previous bid by 6.7%. But on March 1, news broke of GXO's counteroffer. Following this latest bid, Wincanton's Board unanimously recommended its acceptance, thereby withdrawing its support for Ceva. After this development, Cma Cgm confirmed it would not present further bids. Unless last-minute contenders emerge, GXO is poised to secure Wincanton for an estimated sum of 762 million pounds, equivalent to around 306 million euros.
