GXO Logistics switches from a takeover offer to a scheme of arrangement for Wincanton plc (48.49)
- The GXO Directors welcome the Wincanton Directors' intention to recommend the GXO Offer and to support GXO to implement the Acquisition by way of a Scheme. Accordingly, GXO has elected, with the consent of Wincanton and the Panel, to implement the Acquisition by way of a recommended scheme of arrangement under Part 26 of the Companies Act.
- Conditions to the GXO Offer
- Save where set out in this Announcement, the terms and conditions of the Acquisition remain unchanged from those set out in the Rule 2.7 Announcement (subject to appropriate amendments to reflect the change in structure by which the Acquisition is to be implemented, being by a scheme of arrangement rather than the Offer). The amended conditions will be set out in full in the Scheme Document.