XPO to become a top ten logistics company

XPO Logistics Inc. and Norbert Dentressangle SA announced that they have entered into a definitive agreement for XPO Logistics to acquire a majority interest in Norbert Dentressangle and launch a tender offer for the remaining shares.
Norbert Dentressangle is a leading global provider of contract logistics including: e-commerce fulfillment, freight brokerage and transportation, and global forwarding services.
The transaction is valued at €3.24 bln and is expected to close in the second quarter of 2015.
XPO has entered into a binding agreement to purchase from Mr. Norbert Dentressangle and his family all of their shares in Norbert Dentressangle, representing 67% of the company's outstanding shares. The agreed price per share is €217.50, excluding €1.80 dividend per share to be paid prior to the close of the transaction.
Following receipt of clearances, XPO will launch an all-cash simplified tender offer to acquire the remaining outstanding shares of Norbert Dentressangle.
The acquisition will more than triple XPO's EBITDA run rate to approximately $545 mln (approx. €488 mln), and increase its revenue to approximately $8.5 bln (approx. €7.6 bln), nearly achieving the company's 2017 targets two years ahead of plan.
Source: XPO Logistics