XPO Logistics cancels break-up amid economic downturn [Reuters]
XPO, Inc. (XPO)
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Source: Reuters
XPO Logistics cancels break-up amid economic downturn (Reuters) - XPO Logistics Inc ( XPO.N ) has abandoned plans to break up the warehousing and delivery company via a sale or spin-off, it said on Friday, citing “market conditions.” An XPO spokeswoman declined to comment beyond the Greenwich, Connecticut-based company’s brief statement in a regulatory filing. XPO has lost more than half its market value since January as consumers and businesses cut spending in the wake of the coronavirus pandemic. The shares fell 4.45% to $1.87 in afternoon trading. XPO, which ships products such as exercise equipment and furniture from warehouses to consumers, had been considering selling or spinning off its logistics and transportation units. The latter accounts for the bulk of its revenue. XPO Chief Executive Bradley Jacobs has said that selling or spinning off its businesses was the best way to maximize shareholder value. XPO shares are trading at a significant discount to peers such as Knight-
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XPO
News
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- XPO Recognized as a 2024 VETS Indexes 4 Star Employer for the Second Year in a RowGlobeNewswire
- XPO, Inc. (NYSE: XPO) had its price target raised by analysts at Benchmark Co. from $125.00 to $140.00. They now have a "buy" rating on the stock.MarketBeat
XPO
Earnings
- 5/3/24 - Beat
XPO
Sec Filings
- 5/3/24 - Form 10-Q
- 5/3/24 - Form 8-K
- 5/3/24 - Form 8-K
- XPO's page on the SEC website