News / XPO Logistics spends billions to acquire Con-way and the jewel in its crown, Menlo

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XPO Logistics has made another multi-billion dollar acquisition: announcing yesterday it had agreed to buy US trucking and logistics company Con-way.

The deal values publicly-listed Con-way at $3bn, and a tender offer will be sent to Con-way shareholders tomorrow or Monday. Acquiring Con-way’s large less-then-truckload (LTL) business will make XPO the second-largest LTL provider in North America, after FedEx Freight.

XPO Logistics chief executive Bradley Jacobs told The Loadstar that the company’s recent experience in buying French haulage and logistics company Norbert ...