A new subdivision method for computing the nearest univariate gcd is described and analyzed. It is based on an exclusion test and an inclusion test. The xclusion test in a cell exploits Taylor expansion of the polynomial at the center of the cell. The inclusion test uses Smale's alpha-theorems to certify the existence and unicity of a solution in a cell. Under the condition of simple roots for the distance minimization problem, we analyze the complexity of the algorithm in terms of a condition number, which is the inverse of the distance to the set of degenerate systems. We report on some experimentation on representative examples to illustrate the behavior of the algorithm.