XPO Logistics Boosts Stock Offering

XPO Logistics said it has commenced a $126 million public offering of 8 million shares of its common stock.

The third-party logistics provider said Thursday that it has increased the size of the offering to 8 million shares, up from the previously announced 6 million, at a price of $15.75 per share.

In a statement, XPO said it intends to use the proceeds of the offering for “general corporate purposes, which may include potential acquisitions.”

The offering is expected to close March 20, the company said.

Morgan Stanley & Co., Deutsche Bank Securities and Jefferies & Co. are acting as joint book-running managers for the offering, XPO said.