XPO’s $3 billion acquisition of Con-way complete, all Con-way operations to be rebranded XPO
XPO Logistics’ $3 billion acquisition of Con-way was made official Friday, Oct. 30. XPO announced in September its plans to acquire Con-way and to rebrand Con-way’s operations to XPO.
XPO will buy 46.15 million of Con-way’s 57.23 million shares at $47.60 each. The remainder of the shares not validly tendered in the tender offer have been canceled and converted into the right to receive the same $47.60 per share. On its final day of trading on the New York Stock Exchange, Thursday, Oct. 29, Con-way’s stock closed at $47.55. When the deal was announced in early September, Con-way’s stock was trading at $35.53.
All of the acquired operations – Con-way Freight, Menlo Logistics, Con-way Truckload and Con-way Multimodal – are now operating under the single brand of XPO Logistics.
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