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XPO Logistics completes Con-way Inc. acquisition
GREENWICH, Conn. — XPO Logistics said Friday that it has consummated the previously announced agreement to acquire Con-way Inc.
The transaction makes XPO the second largest less-than-truckload (LTL) provider in North America; expands the company's global contract logistics, managed transportation and freight brokerage businesses; and adds truckload transportation in North America. All of the acquired operations — Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal — are now operating under the single global brand of XPO Logistics, according to Bradley Jacobs, chairman and CEO.
"We have an unprecedented opportunity to create value for our customers and investors as a result of the Con-way transaction," Jacobs said. "We're moving quickly to eliminate redundancies and leverage our scale to better serve our more than 50,000 customers."
Jacobs said XPO Logistics would issue new financial targets with its third-quarter earnings release on November 4.
XPO Logistics is a global provider of supply chain solutions. The company provides services for less-than-truckload transportation, truckload brokerage and transportation, last mile logistics, engineered supply chain solutions, high-value-add warehousing and distribution, ground and air expedited freight, intermodal, drayage, global forwarding and managed transportation.
XPO serves more than 50,000 customers with a highly integrated network of over 84,000 employees and 1,469 locations in 32 countries. For more information go to www.xpo.com
XPO's corporate headquarters is in Greenwich, Connecticut, and its European headquarters is in Lyon, France.
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