GREENWICH, Connecticut—XPO Logistics, Inc has consummated the previously announced agreement to acquire Con-way Inc.
The transaction makes XPO the second largest less-than-truckload (LTL) provider in North America; expands the company’s global contract logistics, managed transportation and freight brokerage businesses; and adds truckload transportation in North America. All of the acquired operations – Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal – are now operating under the single global brand of XPO Logistics.
Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “We have an unprecedented opportunity to create value for our customers and investors as a result of the Con-way transaction. We’re moving quickly to eliminate redundancies and leverage our scale to better serve our more than 50,000 customers.”
Jacobs continued, “We’ll issue new financial targets with our third quarter earnings release on November 4.”