Conway bought out by XPO

I suppose there is no way that you can stop yourself from worrying. But rather than concentrating on your worries, perhaps you and hubby should be making a plan B, just in case. It probably won't be needed, but it never hurts to have one. In fact, a current plan B is a good idea no matter what is going on. Maybe even a plan C and D for when B takes a dump.

 

UPS, FedEx, Con-Way, Ryder, & JB hunt are Fortune 500 companies.

So are a number of companies heavily involved in trucking like CH Robinson, Travel Centers of America, Sysco, Coca-cola, Borg Warner, Dana, Navistar, Paccar, Exxon, Chevron, Phillips66, Caterpillar, Pepsi, Kroger, Safeway, etc

 

My friend is a mid level Mgr for Menlo. He has his resume ready just in case but is not too worried. Top management will get their walking papers, HR and any other departments that can be consolidated will be out the door but I don't think it will affect regular day to day stuff for a year or two.

 

J.B. Hunt just joined the S&P 500. That says a lot!

 

When does the 15% paycut kick in ??

 

XPO Logistics acquires Con-Way
By Kaitlyn Krasselt
Updated 6:01 pm, Wednesday, September 9, 2015

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Photo: Mark Conrad / For Hearst Connecticut Media
Brad Jacobs, XPO Logistics, Greenwich, CT. Tuesday, July 14th, 2015.

Brad Jacobs, XPO Logistics, Greenwich, CT. Tuesday, July 14th, 2015.

XPO Logistics (NYSE: XPO), a Greenwich-based supply chain services company, announced Wednesday it will acquire Michigan-based trucking company Con-way and all of its subsidiaries in a $3 billion deal.

The transaction makes the company the second largest less-than-truckload (LTL) provider in North America and the largest LTL provider in Europe, and will expand the company’s global reach in transportation and logistics. XPO will launch a tender offer for Con-Way's shares at $47.60 per share this week, with the deal expected to close in October. The $3 billion deal includes $290 million in debt. Con-way will become a wholly owned subsidiary of XPO.

XPO CEO Brad Jacobs said the “crown jewel” of the deal is the acquisition of Con-way subsidiary, Menlo Logistics. Menlo is an asset-light contract logistics provider with additional lines of business in freight brokerage and managed transportation.

“A couple years ago we looked into trying to buy Menlo because it fit with our company so well,” Jacobs said. “It didn’t work out ... but after we bought Norbert (Dentressangle) we started looking into this deal and thought it made a lot of sense to put these two companies together.”

The deal is only the latest in a series of XPO Logistics transactions that have helped the company expand substantially since 2011 when Jacobs’ private-equity fund invested $135 million in the company.

“This is an opportunistic acquisition for us,” Jacobs said. “We’re doubling our freight under management to $2.7 billion, we’re expanding our global position and it makes us more valuable to our customers.”


KKrasselt@scni.com; 203-625-4411; Twitter: @kaitlynkrasselt

 

XPO has deep pockets.
They already spend a fortune this year when they bought one off Europe's biggest trucking outfits.

 

I'd agree with you if there wasn't a long track record of this not being the case. Yrc/yellow, central /vitran etc.... I'm sure me and a few out work drivers on here could list a few

 

Amen brotha

 

So they bought Conway just to get Menlo? Hmmmm. Could mean they won't mess with conway or could royaly screw things up