XPO Logistics to acquire a majority stake in Norbert Dentressangle for €3.24bn.

XPO Logistics, a company that provides logistics services, agreed to acquire a majority stake in Norbert Dentressangle, a global provider of contract logistics, including e-commerce fulfillment; freight brokerage and transportation; and global forwarding services, for €3.24bn. Financial terms were not disclosed. "This is a defining moment in the growth of XPO. Our planned acquisition of Norbert Dentressangle will catapult XPO to a top ten global logistics company. It will more than triple our EBITDA to $545m and increase our revenue to about $8.5bn upon completion of the tender offer, nearly achieving our 2017 financial targets two years ahead of plan. The acquisition of Norbert Dentressangle is a major leap forward, but we're still in the early innings of our long-term growth plan," Brad Jacobs, XPO Logistics Chairman and CEO.