Major shareholders back increased Wincanton offer as rival bid emerges
CEVA Logistics has increased its offer for logistics giant Wincanton and locked in the support of major shareholders in response to the emergence of a possible rival bid.
Wincanton has this morning revealed it has provided access to due diligence information to an unnamed company that is a "potential competing bidder".
CEVA has upped last month's bid by £38m to £605m for the Chippenham-headquartered company. The 480p-per-share offer is 62% higher than Wincanton's share price the day before the takeover process began.
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