XPO Logistics Inc (XPO.N) Key Developments | Reuters.com
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CORRECTION - XPO Logistics Inc to acquire New Breed Logistics and completes acquisition of Atlantic Central Logistics


Tuesday, 29 Jul 2014 04:30pm EDT 

CORRECTED TO READ - "New Breed's CEO, Louis DeJoy will use $30 mln"... INSTEAD OF..."New Breed will use $30 mln"... IN THE BODY.XPO Logistics Inc:Enters into definitive agreement to acquire New Breed Holding Company (New Breed), the preeminent U.S. provider of non-asset based, complex, technology-enabled contract logistics for blue chip customers.Company further announced that it has completed acquisition of Atlantic Central Logistics (ACL), non-asset based provider of last mile logistics with 14 East Coast locations.Company agreed to acquire New Breed for a purchase price of $615 million on a cash-free, debt-free basis, and assuming a normalized level of working capital.New Breed's CEO, Louis DeJoy will use $30 mln of proceeds from transaction to purchase restricted stock from company.Company completed its acquisition of Atlantic Central Logistics for a cash purchase price of $36.5 mln on a cash-free, debt-free basis, and excluding any working capital adjustments. 

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24.62
-3.8 -13.37%
24 Jun 2016