Brief: Xpo Inc - At Auctions Held On November 28, 2023, Was Selected As Successful Bidder For 28 Service Centers Of Yellow Corporation And Its Subsidiaries

Yellow

05/12/2023 12:38

Dec 5 (Reuters) - XPO Inc  XPO.N :
    * XPO INC - AT AUCTIONS HELD ON NOVEMBER 28, 2023, WAS
SELECTED AS
SUCCESSFUL BIDDER FOR 28 SERVICE CENTERS OF YELLOW CORPORATION
AND ITS SUBSIDIARIES
    * XPO INC - ON DECEMBER 4, 2023, COMPANY AND YELLOW ENTERED
INTO
AN ASSET PURCHASE AGREEMENT
    * XPO INC - SELECT AS SUCCESSFUL BIDDER FOR 28 SERVICE
CENTERS OF
YELLOW CORPORATION LOCATED ACROSS UNITED STATES FOR $870 MILLION
    * XPO INC - STARTING IN 2025, YELLOW ASSET ACQUISITION IS
EXPECTED
TO BE ACCRETIVE TO ADJUSTED DILUTED EARNINGS FROM CONTINUING
OPERATIONS PER SHARE
    * XPO INC - YELLOW ASSET ACQUISITION IS EXPECTED TO BE
ACCRETIVE
TO ADJUSTED EBITDA IN 2024
    * XPO INC -  YELLOW ASSET ACQUISITION IS EXPECTED TO BE
ACCRETIVE
TO DILUTIVE TO ADJUSTED DILUTED EARNINGS FROM CONTINUING
OPERATIONS PER SHARE IN 2024
    * XPO INC - MAY USE PROCEEDS OF BRIDGE FACILITY, TOGETHER
WITH
CASH ON HAND, TO FINANCE YELLOW ASSET ACQUISITION
    * XPO INC - IN CONNECTION WITH YELLOW ASSET ACQUISITION,
INTENDS
TO COMMENCE PRIVATE OFFERING OF $585 MILLION OF SENIOR UNSECURED
NOTES DUE 2032

Source text for Eikon:  ID: 
Further company coverage:  XPO.N 

 ((Reuters.Briefs@thomsonreuters.com;))