GXO announced on February 29, 2024, its intention to acquire Wincanton through a cash offer of 605 pence per share. Wincanton’s board announced their intention to recommend the offer on March 1, 2024. The Scheme Document was made available to shareholders on March 14, 2024.
Wincanton confirmed on April 10, 2024, that the Scheme had been approved by the majority of shareholders at meetings held that day. On April 24, 2024, GXO received clearance under the NSI Act, and on April 25, 2024, the High Court of Justice in England and Wales sanctioned the Scheme. The acquisition was finalized on that day, and trading of Wincanton shares on the London Stock Exchange was suspended.
Shareholders of Wincanton at the Scheme Record Time on April 26, 2024, are entitled to receive 605 pence per share. Settlement will be made through electronic payment or cheque dispatch, with the final date for settlement being May 13, 2024.
Following the completion of the acquisition, non-executive directors of Wincanton resigned, while executive directors remained on the board. Wincanton is no longer in an “Offer Period”, and full details of the acquisition are outlined in the Scheme Document.
