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<p>[QUOTE=&quot;inandoutoftrouble, post: 4786546, member: 96282&quot;]<font size="6"><b>XPO Logistics acquires Con-Way</b></font></p><p><b>By Kaitlyn Krasselt</b></p><p><b>Updated 6:01 pm, Wednesday, September 9, 2015 </b></p><ul> <li><img src="http://ww4.hdnux.com/photos/40/64/55/8604507/3/920x920.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></li> </ul><p>Photo: Mark Conrad / For Hearst Connecticut Media</p><p>Brad Jacobs, XPO Logistics, Greenwich, CT. Tuesday, July 14th, 2015.</p><p><br /></p><p>Brad Jacobs, XPO Logistics, Greenwich, CT. Tuesday, July 14th, 2015.</p><p><br /></p><p>XPO Logistics (<b><a href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22NYSE%22" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22NYSE%22" rel="nofollow">NYSE</a></b>: XPO), a Greenwich-based supply chain services company, announced Wednesday it will acquire Michigan-based trucking company <b><a href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22Con-Way%22" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22Con-Way%22" rel="nofollow">Con-way</a></b> and all of its subsidiaries in a $3 billion deal.</p><p><br /></p><p>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&#039;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.</p><p><br /></p><p>XPO CEO <b><a href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22Brad+Jacobs%22" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.greenwichtime.com/search/?action=search&amp;channel=business&amp;inlineLink=1&amp;searchindex=gsa&amp;query=%22Brad+Jacobs%22" rel="nofollow">Brad Jacobs</a></b> 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.</p><p><br /></p><p>“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.”</p><p><br /></p><p>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.</p><p><br /></p><p>“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.”</p><p><br /></p><p><i><br /></i></p><p><i><b><a href="mailto:KKrasselt@scni.com">KKrasselt@scni.com</a></b>; 203-625-4411; Twitter: @kaitlynkrasselt</i></p><p><i></i>[/QUOTE]</p><p><br /></p>

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