GXO Logistics Inc - Connecticut, US-based warehousing and distribution firm - Says the president of the Polish Office of Competition & Consumer Protection decided to approve the acquisition of Clipper Logistics PLC on terms "reasonably satisfactory" to GXO. Adds that the approval is unconditional. Notes that the completion of the acquisition remains dependent on the remaining conditions set out in the scheme document.
Clipper Logistics agreed to the GBP965 million takeover offer by GXO in late February. Next to clearance from the Polish competition authority, the acquisition is dependent on at least 75% shareholder approval at an upcoming general and court meeting, clearance from the UK Competition & Markets Authority, and the scheme being sanctioned by the High Court of Justice in England & Wales.
Clipper Logistics current stock price: 858.00 pence
12-month change: up 24%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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