M&A Deal Summary

XPO Acquires Con-way

On September 9, 2015, XPO acquired transportation company Con-way for 3.0B USD

Acquisition Highlights
  • This is XPO’s 12th transaction in the Transportation sector.
  • This is XPO’s 2nd largest (disclosed) transaction.
  • This is XPO’s 14th transaction in the United States.
  • This is XPO’s 3rd transaction in Michigan.

M&A Deal Summary
Date 2015-09-09
Target Con-way
Sector Transportation
Buyer(s) XPO
Deal Type Add-on Acquisition
Deal Value 3.0B USD
Advisor(s) Citigroup Investment Banking (Financial)
Sidley (Legal)

Target

Con-way

Ann Arbor, Michigan, United States
website
Con-way, Inc. is a freight transportation and logistics services company. Con-way delivers services through three primary operating companies: Con-way Freight, Con-way Truckload Services and Menlo Logistics. These operating units provide high-performance, day-definite less-than-truckload and full truckload and intermodal freight transportation, as well as logistics, warehousing and supply chain management services, and trailer manufacturing.

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Buyer(S) 1

Buyer

XPO

Greenwich, Connecticut, United States

website

Category Company
Founded 2000
Sector Transportation
Employees108,000
Revenue 7.7B USD (2022)
DESCRIPTION
XPO office in Charlotte, North Carolina.
XPO office in Charlotte, North Carolina.

XPO is a provider of transportation and logistics solutions. XPO's transportation services include truck brokerage and transportation, less-than-truckload, intermodal, highly-engineered supply chain solutions, contract logistics, last mile, expedite, global forwarding and managed transportation. XPO was founded in 2000 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 16 of 17
Sector (Transportation) 12 of 13
Type (Add-on Acquisition) 15 of 15
State (Michigan) 3 of 3
Country (United States) 14 of 14
Year (2015) 4 of 4
Size (of disclosed) 2 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-04 Bridge Terminal Transport

Charlotte, North Carolina, United States

Bridge Terminal Transport, Inc. is a marine drayage company in the United States. It covers major port locations and inland rail sites through a network of 28 terminals, 25 container yards and over 1,285 owner operators. Customers include shipping lines, importers/exporters, and related segments.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 XPO Logistics - North American Truckload Operations

Greenwich, Connecticut, United States

XPO Logistics - North American Truckload Operations comprises approximately 3,000 tractors, 7,500 trailers and 29 locations. The business provides an integrated offering of point-to-point dry-van TL transportation services across the United States, and is one of the largest service providers of cross-border trucking into Mexico.

Sell $558M
Mergr

Product

Company

Legal