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One of the world’s largest 3PLs has filed its prospectus for an initial public offering with the New York Stock Exchange. This brief analysis from Transport Intelligence outlines some of the difficulties the company has faced since its private equity-backed inception. Born out of the acquisition of TNT’s freight division, and doubling in size with the $2bn debt-funded purchase of EGL, (as this Reuters article explains) more equity could give it some breathing room.