XPO’s SEC Filing Advances Spinoff of Brokerage Platform
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XPO Logistics Inc. has filed a confidential Form 10 registration statement with the U.S. Securities and Exchange Commission for the planned spinoff of its tech-enabled brokered transportation platform, the company announced.
The filing represents a significant milestone in the transaction process (filing the form enables the securities to have the potential for trading, experts said), which XPO expects to complete in the fourth quarter, the Greenwich, Conn.-based company said.
As previously announced, XPO intends to spin off its asset-light brokered transportation platform from its asset-based less-than-truckload business, creating two separate, publicly traded companies with vast growth prospects in North America.
XPO Logistics ranks No. 3 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. XPO ranks No. 6 on the TT Top 100 list of the largest logistics companies.
XPO further announced it appointed Lou Amo president of truck brokerage. He currently serves in this role with XPO in North America. — Transport Topics
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