Who bought GXO?

XPO Logistics Completes UK Acquisition - GXO | Supply Chain Management | 3PL Contract Logistics.

Is XPO and GXO the same company?

GXO is the former global logistics segment of XPO Logistics (NYSE: XPO) and successfully spun off today as the world's largest pure-play contract logistics provider. “This is an exciting milestone in GXO's history.

Is XPO changing to GXO?

XPO Logistics Unveils GXO as New Company Name for Planned Spin-off of Logistics Business. XPO Logistics, Inc. (NYSE: XPO), a leading global provider of supply chain solutions, today announced the identity of the new company that has been created in connection with the planned spin-off of XPO's logistics business.

Will XPO shareholders get GXO stock?

XPO common stock that trades in the “regular-way” market will trade with an entitlement to shares of GXO common stock distributed pursuant to the distribution, such that holders of XPO common stock who sell XPO shares regular way before August 2, 2021 will also be selling their right to receive shares of GXO common ...

What is the difference between GXO and XPO?

XPO is a leading provider of freight transportation services, primarily less-than-truckload transportation and truck brokerage services, and GXO is the largest pure-play contract logistics provider in the world.

Why did GXO and XPO split?

GXO will be the biggest pure-play logistics company in the world. With several different businesses under its umbrella, XPO CEO Brad Jacobs believed that XPO's current combined structure made the transportation stock difficult to value because the company had no true peers. The separation takes care of that problem.

Why did XPO spin-off GXO?

The spinoff will allow management to implement an optimal capital structure, and establish an investment identity and allocation strategy, the company has said. “We have such a great secular and high-growth business that benefits from all tailwinds of e-commerce, automation and outsourcing,” Oran said.

What does XPO spinoff mean for shareholders?

Recently, XPO Logistics (NYSE:XPO) approved a plan to spin-off its logistics segment into a separate publicly traded company. The spinoff would result in XPO shareholders owning shares in both individual companies with increased levels of transparency into the operations of each standalone segment.

How many shares of GXO will XPO shareholders get?

Upon completion of the distribution, each XPO stockholder as of July 23, 2021, the record date for the distribution, will receive one share of GXO common stock for every share of XPO common stock held as of the close of business on the record date.

Is GXO a good buy?

Out of 12 analysts, 8 (66.67%) are recommending GXO as a Strong Buy, 1 (8.33%) are recommending GXO as a Buy, 3 (25%) are recommending GXO as a Hold, 0 (0%) are recommending GXO as a Sell, and 0 (0%) are recommending GXO as a Strong Sell.

Who is XPO Logistics owned by?

In September 2011, American businessman Brad Jacobs acquired Express-1 Expedited Solutions, Inc. and became its chairman and CEO. The company changed its name to XPO Logistics – a reference to Express-1's AMEX ticker symbol, "XPO" – and began acquiring other companies in the transportation and logistics sector.

What company did XPO spin-off?

The company's announcement comes in after the spin-off of GXO Logistics (Logistics business), which was completed on August 3, 2021. The pricing of the new shares and the number of shares XPO shareholders would receive are yet to be decided.

Is GXO American?

GXO Logistics (doing business as GXO) is an American global contract logistics company that manages outsourced supply chains and warehousing. GXO's corporate headquarters are located in Greenwich, Connecticut, U.S.

What do GXO do?

GXO is a world leader in providing cutting-edge logistics solutions for multinational companies and blue-chip market leaders. Our ultimate vision: create game-changing opportunities for the world's best companies.

Is XPO intermodal for sale?

XPO (ticker: XPO) announced the sale of its U.S. intermodal-shipping business to STG Logistics for $710 million. Intermodal shipping refers to freight that travels by various modes, mainly by boat, train, and truck. XPO's intermodal unit generated about $1.2 billion in sales during 2021.

What XPO Logistics sell?

XPO's intermodal division is North America's third-largest provider of containerized transportation services, offering intermodal drayage and rail brokerage for retailers, manufacturers, third-party logistics providers and other customers. The XPO network had 48 locations, 2,200 tractors and 5,200 chassis.

Is GXO a good company to work for?

Is GXO Logistics a good company to work for? GXO Logistics has an overall rating of 3.4 out of 5, based on over 269 reviews left anonymously by employees. 63% of employees would recommend working at GXO Logistics to a friend and 59% have a positive outlook for the business.

What companies does XPO own?

Brad Jacobs has started five companies from scratch and led each of them to become a billion dollar or multi-billion-dollar enterprise. These include three publicly traded companies: XPO Logistics, Inc. (NYSE: XPO), United Rentals, Inc. (NYSE: URI) and United Waste Systems, Inc.

How many employees does GXO have?

About GXO Logistics

(NYSE: GXO) is the world's largest pure-play contract logistics provider. GXO is committed to providing a world-class, diverse workplace for its 94,000 team members across 869 warehouse locations totaling 208 million square feet.

Is XPO changing its name?

XPO Logistics, a leading global provider of transport and logistics solutions, today announced the identity of the new company that has been created in connection with the planned spin-off of XPO's logistics business. The company is named GXO Logistics, Inc.