“As unimaginable as it might seem, it could happen, sure,” the US-based head of a large private equity house told me, while I touched upon the latest market rumours on XPO Logistics. The “3PL could attract interest as soon as Q1 from a trade buyer”, according to another NY-based M&A banker. Wishful thinking, eh?

“It’s officially a takeover target at these levels,” she noted in the wee hours.

“It is levered only 2x forward on 2019 figs, which drops to 1.7x the year after, and free cash ...

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