Wincanton's possible takeover of TDG would put "even further daylight" between it and the competition, according to a leading transport analyst. The company has revealed its intention to make an indicative cash offer for TDG at 281.25p per ordinary share, or 290p when the dividend of 8.75p is included.
It follows the indicative cash offer of 275p per share from private equity firm Laxey Partners - which owns about 22% of TDG's issued share capital - in February. Mark O'Bornick, Analytiqa
senior analyst, says: "The move would certainly reinforce Wincanton's position in the UK contract logistics market above and beyond road haulage."
A TDG statement adds: "TDG will seek to agree with Laxey Partners, Wincanton and the Takeover Panel a formal timetable in which each part must either announce a firm intention to make an offer for TDG or announce that it does not intend to make an offer."
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