Divestments: change of plan at XPO Logistics

Change of mind, change of plan.

XPO said yesterday that it won’t entertain any additional divestment for the foreseeable future.

In a SEC filing, it noted:

“As previously announced on March 8, 2022, XPO plans to divest its European business through either a sale or a listing on a European stock exchange.

“Due primarily to weakened capital markets in Europe, the company does not currently expect to divest its European business in the near term. The company does not undertake to provide any further updates on the status of the plan, except as may be required by applicable law.”

Separately, it also announced that “XPO Logistics, Inc  will change its name to XPO, Inc., effective on or about December 19, 2022. The Company’s NYSE ticker symbol ‘XPO’ and CUSIP number will not change.”