(Reuters) – CEVA Logistics, a subsidiary of French shipping group CMA CGM, announced on Friday the purchase of British logistics company Wincanton in an all-cash transaction worth 566.9 million pounds (660.6 millions of euros).
The offer of 450 pence per share represents a 52% premium to Wincanton’s closing share price of 297 pence on Thursday, according to a joint statement from the two companies.
On the London Stock Exchange, Wincanton shares climbed 47% in early trading on Friday.
CEVA, headquartered in Marseille, said the acquisition would expand its contract logistics offering in the UK and Ireland.
“This proposed acquisition represents an attractive growth opportunity, consistent with CEVA Logistics’ expansion strategy in this key region,” the company commented in a statement.
(Reporting by Aby Jose Koilparambil in Bangalore; French version Nathan Vifflin, edited by Blandine Hénault)
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