GXO looking to buy Clipper

The boards of GXO Logistics and Clipper Logistics reached an agreement earlier this week on the key terms of a possible cash and share office for Cipper by GXO.

In a joint statement, the boards of the two companies described the proposition as ‘a compelling strategic combination which significantly increases the opportunities for both businesses in the high-growth e-commerce/e-fulfilment areas’.

The boards emphasised the companies’ “highly complementary service offerings, customer portfolios and footprints in the UK and Europe”, which they said presented “significant cross selling of capabilities across a large combined customer bases”.

Click here to access the full statement.