XPO Logistics completed the spin-off of its logistics segment in a $6.4bn deal.

XPO Logistics, an American multinational transportation and contract logistics company, completed the spin-off of its logistics segment into a separate publicly-traded company, GXO Logistics, in a $6.4bn deal. "By uncoupling our transportation and logistics segments, we intend to create two high-performing, pure-play companies to serve the best interests of all our stakeholders. Both businesses will have greater flexibility to tailor strategic decision-making and capital allocations to their end-markets, with the benefit of strong positioning as customer-focused innovators. We currently believe that this spin-off is the most effective way to unlock significant value for our customers, employees and shareholders," Brad Jacobs, XPO Logistics Chairman and CEO.