logo
Share SHARE
FONT-SIZE Plus   Neg

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

XPO Logistics, Inc. (XPO: Quote) 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
Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world. Outrage in the business world may be helping re-shape a new Indiana law that many are calling "anti-gay." Embarrassed and worried about the backlash from the national business community, the state's paper of record is loudly calling on legislators to re-word the law. The front page of the Indianapolis...
comments powered by Disqus
Follow RTT