XPO Logistics to acquire Con-way for $3bn.

XPO Logistics, a company that provides logistics services, agreed to acquire Con-way, a less-than-truckload motor carrier headquartered in Ann Arbor utilizing a network of freight service centers to provide regional, inter-regional and transcontinental less-than-truckload freight services throughout North America, for $3bn. "Our opportunistic acquisition of Con-way will make XPO the second largest provider of LTL transportation in North America, [which is] a $35bn market. LTL is a non-commoditized, high-value-add business that's used by nearly all of our customers. Con-way is a premier platform that we will run with a fresh set of eyes as part of our broader offering," Bradley Jacobs, XPO Logistics Chairman and Chief Executive.