logo
Share SHARE
FONT-SIZE Plus   Neg

XPO Logistics To Buy 3PD For Nearly $365 Mln - Quick Facts

XPO Logistics, Inc. (XPO) reported signing a definitive agreement to acquire 3PD, Inc.'s common shares in a transaction valued at around $365 million. The acquisition is likely to be immediately and significantly accretive to earnings. The acquisition reflects an aggregate consideration of about $357 million of cash and $8 million of XPO restricted stock, and may close in the third quarter of 2013.

Atlanta-based 3PD, founded by Karl and Randy Meyer in 2001, is a non-asset, third party provider of heavy goods, last-mile logistics in North America. The business reported year-on-year growth in adjusted EBITDA of 20 percent and 36 percent for the year 2012 and the first five months of 2013, respectively; and trailing full-year revenue of $319 million through May 31, 2013.

Credit Suisse Group is serving as financial advisor to the board of XPO Logistics, and Morgan Stanley & Co. LLC is serving as financial advisor to 3PD's board.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Netflix Inc. and movie studio Disney are finally taking their deal that was announced in 2012 to the next level. The online movie rental service will become the exclusive U.S. pay-TV home of the latest films from Disney, Marvel, Lucasfilm and Pixar. Abercrombie & Fitch Co. (ANF) reported a GAAP net loss attributable to company of $39.6 million for the first quarter ended April 30, 2016 compared to a loss of $63.2 million, last year. Excluding certain items last year, net loss attributable to Abercrombie & Fitch Co. increased $2.4 million. Net... Dollar General Corp. (DG) reported first-quarter net income of $295 million, or $1.03 per share compared to $253 million, or $0.84 per share, a year ago. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 for the quarter. Analysts' estimates typically...
comments powered by Disqus
Follow RTT