XPO Logistics plans to acquire transport company Con-way for as much as $3bn (2.6bn euros).
According to the Wall Street Journal, Con-way is currently the third-largest transporter in the US. The acquisition will immediately make XPO, which until previously operated mainly as a middleman, one of the largest road transport companies in the US. According to experts, the acquisition will make XPO a 'one stop shop' for customers.
Substantial sales increase
If Con-way is incorporated, XPO's annual turnover will rise to $15 billion. In 2014, that turnover was still $2.4 billion. For 2019, XPO wants to bring in annual sales of $23 billion. That target is to be achieved through a number of smaller acquisitions in the near future.
Editorial LogistiekProfs
