GXO Logistics explores sale after receiving takeover interest, source says

GXO Logistics

10/10/2024 24:44

By Sabrina Valle
       NEW YORK, Oct 9 (Reuters) - GXO Logistics  GXO.N , a
contract logistics provider with a market value of roughly $6
billion, is exploring options, including a potential sale, after
receiving takeover interest, according to a person familiar with
the matter. 
    Greenwich, Connecticut-based GXO is working with a financial
advisor to field acquisition interest from potential buyers,
which include rival logistics providers, the source said,
requesting anonymity as the discussions are confidential.
    GXO has not made a final decision to proceed with a sale,
and it is possible that the talks may not result in a deal, the
source added.  
    GXO declined to comment.
    GXO's shares jumped more than 8% on the news in trading
after the bell on Wednesday. 

 (Reporting by Sabrina Valle in New York; Writing by Anirban
Sen; Editing by Paritosh Bansal)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
Messaging: Signal/Telegram/Whatsapp - +1-646-705-9409))