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Watchdog to probe GXO’s Wincanton takeover
[ November 1, 2024 // Chris Lewis ]The UK’s Competition and Mergers Authority (CMA) has decided to refer US-owned GXO Logistics acquisition of UK logistics firm Wincanton for an in-depth, phase 2 investigation unless the parties undertake to address these competition concerns.
A GXO spokesperson said: “We are reviewing the decision and will continue to engage constructively and collaboratively with the CMA to secure a positive outcome. We strongly believe that the transaction will deliver meaningful benefits for contract logistics customers in the UK, Europe and globally, and will support the UK Government’s objective to drive economic growth by creating a more efficient and effective supply chain.
“The UK logistics market is highly competitive, and competition will remain robust for years to come. We remain confident in obtaining regulatory clearance and look forward to beginning to integrate our two great businesses.”
Tags: Wincanton; GXO