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Yellow | Con-Way being sold.

Talk about a buying spree $Bill would look like a miser compared to these people.

On March 12, 2012, XPO announced an underwritten public offering of 6 million shares of common stock.[27] Three days later, the company increased the offering to 8 million shares, at $15.75 per share.[28] The IPO closed at 9.2 million shares of common stock, with net proceeds of roughly $136.7 million.[29] On May 8, 2012, the company completed the purchase of Continental Freight Services, Inc., a $22 million freight brokerage firm in South Carolina.[30][31] On June 14, 2012 XPO Logistics listed its shares on the New York Stock Exchange and Jacobs again rang the bell to open the Exchange.[32]

XPO Logistics completed the purchase of Kelron Logistics, Inc., a $100 million truck broker based in Canada, in May 2012.[33][34] This was followed in October 2012, with the purchase of BirdDog Logistics, LLC, a $7 million freight brokerage operation in North Carolina.,[35] and also the purchase of Turbo Logistics, Inc., the freight brokerage division of Ozburn-Hessey Logistics, LLC for $50 million.[35][36] At the end of November 2012, Bradley Jacobs confirmed that there was "about $265 million on the balance sheet" to fund "maybe 3,4,5 acquisitions a year".[8]

The company's first purchase of 2013 was the February 8th acquisition of East Coast Air Charter, Inc., a $43 million expedited air charter brokerage firm in North Carolina.[37] The second acquisition in February was announced on the 22nd when the company acquired the operating assets of Covered Logistics & Transportation LLC, a non-asset, third party freight brokerage business with 2012 revenues of approximately $27 million.[38]

In March 2013, Gov Pat McCrory's office announced that XPO Logistics was to expand its Charlotte operations center, bringing 287 new jobs by the end of 2014.[39][40]

XPO announced in July 2013 that it entered into a definitive agreement to acquire all of the common stock of 3PD Inc. in a transaction valued at approximately $365 million. 3PD is the largest non-asset, third party provider of heavy goods, last-mile logistics in North America.[41] This purchase was completed on August 16, 2013.[42] August 2013 also saw XPO announcing the closing of a registered underwritten public offering of 9,694,027 shares of common stock, at a price to the public of $22.75 per share.[43] In November of this year the company announced it had rebranded its formerly named Concert Group Logistics (CGL) division as XPO Global Logistics, to "better reflect the role of freight forwarding" within the company’s broader service offering.[44]

On November 15, 2013, XPO announced that it had acquired Optima Service Solutions, LLC, a leading non-asset provider of last-mile logistics services for major retailers and manufacturers, for a cash purchase price was $26.6 million.[45][46] On December 28, 2013 XPO completed the acquisition of NLM from Landstar System, Inc. The company has rebranded the NLM operations as XPO NLM. This acquisition makes the company the largest manager of expedited shipments in North America. The company funded the $87 million cash acquisition through its ABL facility and available cash, including approximately $13.4 million of cash acquired on closing. [47] [48]

On March 31, 2014, XPO acquired intermodal provider Pacer International, Inc. in a cash and stock transaction valued at approximately $335 million. XPO financed the cash portion of the acquisition and related fees and expenses through a combination of cash on hand and a portion of the net proceeds of a $414 million public offering of common stock. XPO facilitates approximately 10 percent of all domestic intermodal freight movements and is the largest provider of intermodal services between the U.S. and Mexico.[49][50][51]

On July 28, 2014, XPO acquired Atlantic Central Logistics (ACL) for a cash purchase price of $36.5 million. Founded in 1980, ACL provides last mile logistics through approximately 200 contracted carriers and 160 employees at 14 East Coast locations. ACL focuses on serving the burgeoning demand for e-commerce fulfillment by facilitating the time-sensitive, local movement of goods between distribution centers and the end-consumer. The operations are part of the XPO Last Mile business.

On September 2, 2014, XPO Logistics acquired New Breed, a preeminent U.S. provider of non-asset based, highly engineered contract logistics solutions for blue chip customers. The acquisition expanded XPO’s operations to 203 locations and approximately 10,400 employees.. XPO financed the $615 million cash purchase price with the proceeds from its August 2014 private placement of $500 million of senior notes and available cash on hand. New Breed specializes in technology-enabled services for omni-channel distribution, reverse logistics, transportation management, freight bill audit and payment, lean manufacturing support, aftermarket support and supply chain optimization. Its services are concentrated in industries with high-growth outsourcing opportunities, including telecom/technology, retail/e-commerce, aerospace and defense, medical equipment and select areas of manufacturing.[52][53]

On September 11, 2014, XPO announced that it had entered into a definitive agreement with PSP Investments, GIC, which is Singapore’s sovereign wealth fund, and Ontario Teachers’ Pension Plan to invest $700 million in XPO to accelerate the company’s growth strategy.[54]

On April 28, 2015, XPO announced a $3.56 billion (3.24 billion euros) deal to acquire major French logistics group Norbert Dentressangle.[55][56]
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Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "Our opportunistic acquisition of Con-way will make XPO the second largest provider of less-than-truckload transportation in North America, a $35 billion 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. Importantly, we'll gain strategic ownership of assets that will benefit our company and our customers during periods of tight capacity.

• Bradley Jacobs, chairman and chief executive of XPO Logistics, will retain these positions and lead the combined company. Douglas Stotlar, Con-way's president and chief executive officer, will serve in a limited role as an independent advisor to the combined company through the first quarter of 2016.

Now you see why Douggie and his boyz in Ann Arbor kept pushing hard to keep the union out! Let's see how this plays out with XPO Logisitcs "fresh set of eyes"!
http://investors.xpologistics.com/mobile.view?c=204615&v=203&d=1&id=2086660
:chairshot:
 
highheadblues said:
Don't know anything about xpo, but can't be any worse than their current mgmt
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Aaaaaaa an old saying comes to mind..."The devil you don't know could be worse than the one that you do know." Any time one company takes over another the first thing they do is to look for places to save money. And trucks, fuel and real estate prices are pretty much uncontrollable costs. What's left? Drivers' wages and benefits. You know that they won't take it from the upper echelon. Sniff, sniff, I smell a good reason to vote yes in a union election.
 
ABFer said:
That'll give their workers a warm and fuzzy feeling in their pants.
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Don't know anything about xpo, but can't be any worse than their current mgmt
jenny807 said:
XPO intends to increase Con-way's annual operating profit by $170 million to $210 million over the next two years through synergies and operational improvements

get ready to bend over Conway guys..... there is that word....synergies
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What you talkin bout Willis? Synergies worked great for Yellow and Roadway.
 
jenny807 said:
XPO intends to increase Con-way's annual operating profit by $170 million to $210 million over the next two years through synergies and operational improvements

get ready to bend over Conway guys..... there is that word....synergies
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ZInP2Us.jpg

:6817:
 
jenny807 said:
XPO intends to increase Con-way's annual operating profit by $170 million to $210 million over the next two years through synergies and operational improvements

get ready to bend over Conway guys..... there is that word....synergies
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You are correct , Conway Driver's get ready for $$$ givebacks & vacation takeaways !!!,
 
XPO just bought one of Europe's largest asset based trucking companies for 3.5 Billion, now they buy Conway. The statement said all corp management jobs are gone and the CEO will stay on during the transition only. They said they plan to utilize the company trucks better to get away from the PTS side- too expensive and unpredictable. They will now be able to offer logistics, Brokerage & warehousing around the world. They are heavy in Int'l shipping and now have they are own trucks in North America and Europe to offer the customers one stop shopping. Last year they Bought up Excel Logistics, took the warehouse and logistics and merged it in with them and sold the small truck load division off. Conways Menlo Logistics will be folded into their, so expect heavy layoff's there.
 
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