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The cash offer of £4.50 per share, which values Wincanton at approximately £567 million, is to be effected by a court-sanctioned scheme of arrangement and is conditional on the approval of Wincanton shareholders and certain regulatory clearances.
Wincanton is a leading British supply chain solutions company. It provides business critical services including storage, handling and distribution; high volume efulfilment; retailer 'dark stores'; two-person home delivery; fleet and transport management; and network optimisation for many of the UK's best-known companies. With almost 100 years' heritage, Wincanton's approximately 20,300-strong team operates from more than 170 sites across the country, responsible for approximately 8,500 vehicles.
CEVA Logistics is a world leader in third-party logistics, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, CMA CGM being a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels. CMA CGM is a provider of container shipping services in the world and a global port operator.
The Herbert Smith Freehills team is being led by M&A partners Roddy Martin and Mark Bardell and senior associate Laura Ackroyd, supported by associates Arina Abgaryan and Rhys Williams. Partner Susan Black and senior associates Christon Shenolikar and Sean Giles are advising on competition. Managing partner of EPI (West) Samantha Brown and partners Paul Ellerman and Nick Wright and senior associate Niall Crean are advising on incentives, pensions and employment.
Willkie Farr & Gallagher are advising CEVA Logistics.
Roddy Martin commented "We are proud of our longstanding relationship with Wincanton plc and are very pleased to be advising its board on this important transaction, which is a testament to the strength of the business it has built, its strategy, strong customer relationships and excellent people. We look forward to seeing the enlarged group go from strength to strength. From an HSF perspective, it is particularly pleasing to see us continue to be market leaders in UK public M&A, following hot on the heels of advising both Hotel Chocolat and Kin + Carta."
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