Announced
Completed
Financials
Tags
Demerger
Majority
Single Bidder
Domestic
Trucking
Public
truck brokerage
United States
Spin Off
Friendly
Completed
Synopsis
XPO Logistics, an American freight transportation company that primarily provides less-than-truckload and truck brokerage services in 18 countries, completed the spin-off of its high-tech truck brokerage business. Financial terms were not disclosed. "Our two core businesses of North American less-than-truckload and tech-enabled truck brokerage are industry-leading platforms in their own right, each with a distinct operating model and a high return on invested capital. We believe that by separating these businesses through a spin-off, we can significantly enhance value creation for our customers, employees and shareholders, as we did with our successful spin-off of GXO last year," Brad Jacobs, XPO Logistics Chairman and CEO.
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