Photo credits @ twitter/Wincantonplc

GXO’s acquisition of Wincanton cleared by national security review

GXO Logistics has received approval from the UK government for its acquisition of Wincanton PLC, announced GXO yesterday. This follows a review under the National Security and Investment Act 2021.

You can read this article in 1 minute

On 23 April, the Secretary of State in the Cabinet Office confirmed that no further action would be taken regarding the acquisition, clearing a key hurdle for the deal.

This approval follows GXO’s initial offer in February 2024 to acquire Wincanton for 605 pence per share, totalling approximately £753.5 million. Wincanton’s board subsequently endorsed the offer, and both companies opted for a Court-sanctioned scheme of arrangement to complete the acquisition.

While the NSI Act review has been cleared, the deal remains subject to other conditions, including shareholder approval and court sanction. Wincanton shareholders overwhelmingly voted in favour of the acquisition earlier this month.

This green light from the government indicates that the acquisition is likely to proceed, barring any unforeseen circumstances.