News / Clipper Logistics and GXO reach agreement on cash and share offer

Clipper Logistics is set to recommend a cash and share offer from GXO to its shareholders, subject to the usual due diligence and agreement on detailed terms and conditions.

GXO’s cash and share offer for the e-fulfilment company is valued at around $1.3bn, according to The Loadstar Premium.

The deal consists of 690p ($9.38) per share in cash and new GXO shares that “would imply a valuation of 230 pence [per share] based on the trailing GXO three-month volume weighted average price and ...