Brambles (ASX:BXB) confirms talks on CVC’s takeover bid

Brambles (ASX:BXB) confirmed that it has spoken to private equity group CVC Capital Partners about a potential takeover deal.

In an unsolicited proposal, CVC would acquire all shares in Brambles, although the supply chain logistics company said the engagement is preliminary, incomplete and there has been no formal proposal received from CVC.

Brambles also notes that there is no certainty that the engagement will lead to a binding proposal being received from CVC.

Brambles said the board and management remain focused on implementing the Shaping our Future plan, which aims to build on the strength of Brambles’ sustainable business model to transform the business and unlock value for customers and shareholders.

Shares in Brambles (ASX:BXB) last traded at $10.43 on Friday.