French shipping giant CMA CGM to acquire UK logistics firm Wincanton for $700 million

French shipping company CMA CGM has agreed to buy British logistics firm Wincanton for about $700 million in cash that will add warehousing management and grocery to the Marseille-based group's business portfolio. The acquisition, being made through CMA CGM’s own subsidiary freight forwarder CEVA Logistics UK Rose Ltd, values Wincanton at 450 pence-per-share, which is a 52 per cent premium to Wincanton's closing price of 297 pence on Thursday.