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Benzinga

Business

Rachit Vats

BIZARRE: Xpo logistics to split company into two and divest these units to unlock value for investors | Mind Blowing Facts

XPO XPO Logistics NYSE XPO Logistics Inc

XPO Logistics Inc (NYSE: XPO) said on Tuesday it plans to split its key North American business units into two publicly traded units and aims to divest its European business and North American intermodal operation, a move that it says will unlock value for investors.

What Happened: The trucking and freight brokerage company said the spinoff will help it focus on the less-than-truckload (LTL) business that caters to smaller shipments.

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