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XPO Logistics Completes Squeeze-Out Process for XPO Logistics Europe
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GREENWICH, Conn., June 10, 2021 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO) has completed the previously announced buy-out offer and squeeze-out for the remaining 3% of XPO Logistics Europe, SA shares that it did not already own. The French Autorité des marches financiers set the effective date of the squeeze-out as June 4, 2021. The former minority shareholders of XPO Logistics Europe have and will receive, as part of the buy-out offer and the subsequent squeeze-out, a payment of €315 per share, resulting in a total cash consideration of approximately €108 million.
The transaction was supported by the Supervisory Board of XPO Logistics Europe and approved by the French Autorité des marches financiers. Trading of XPO Logistics Europe shares on Euronext Paris was discontinued on May 27, 2021.
About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The company’s corporate headquarters are in Greenwich, Conn. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube.
covered logistics & transportation llc (clt) is now part of xpo logistics, inc. xpo, a nyse company, is on a significant growth path which will lead it to over $5 billion in revenue in the next three years. xpo brings many resources to covered logistics, including ocean and air freight, over 400 express-1 vehicles, an air charter operation, and freight forwarding operation. xpo is committed to growing covered logistics and is applying the' its not broke, lets not fix' it philosophy, which means covered customers will continue to get outstanding service, communication and costs. covered transportation (ct) a high tech, asset based refrigerated carrier, continues to operate as an independent company. the business continues to be based on three core principles: the business must be noble, fun and profitable. an innovative entreprenurial spirt enables company associates to work in an atmosphere where their thoughts and ideas make a difference in providing quality service at competitive cos
