GXO Receives UK Regulatory Clearance for Acquisition of Clipper Logistics plc
GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, announced that it has received unconditional regulatory clearance from the U.K. Competition and Markets Authority (CMA) for its acquisition of Clipper Logistics plc (Clipper). On May 24, 2022, GXO completed its offer however both companies continued to be run independently pending completion of the regulatory review
Combination willaccelerateGXO’sgrowthopportunitiesand enhancevalue for all stakeholders
GREENWICH, Conn., Oct. 04, 2022 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, announced that it has received unconditional regulatory clearance from the U.K. Competition and Markets Authority (CMA) for its acquisition of Clipper Logistics plc (Clipper). On May 24, 2022, GXO completed its offer however both companies continued to be run independently pending completion of the regulatory review.
GXO Chief Executive Officer Malcolm Wilson said, “GXO and Clipper are both industry leaders and together, we’re even stronger. As one company, we expect to accelerate growth by expanding our geographic presence in key markets and verticals, bolstering our roster of blue-chip customers and enhancing the breadth of innovative warehouse capabilities we provide.”
Wilson added, “We share a commitment to ESG, providing an exceptional customer experience and harnessing technology to improve efficiency, productivity and employee safety. Being a great fit culturally will underpin our future success and make for a seamless integration.”
