XPO Logistics unveils GXO as new company name for planned logistics business spin-off


File a confidential initial registration statement of Form 10

GREENWICH, Connecticut, March 18, 2021 (GLOBE NEWSWIRE) – XPO Logistics, Inc. (NYSE: XPO), one of the world’s leading providers of supply chain solutions, today announced the identity of the new company formed as part of XPO’s proposed logistics business split. The company is called GXO Logistics, Inc. and will be marketed under the slogan “Logistics to its full potential”. The company got its start with a video presentation which highlights its logo and message.

Brad Jacobs, President and CEO of XPO Logistics, said: “Today we have taken an exciting step on the road to splitting our logistics segment. The new company is called GXO – three letters that represent the revolutionary opportunities we offer to customers, employees and shareholders, with a nod to our XPO heritage. GXO will carry on this legacy as an independent public company, with countless ways to deliver logistics to its full potential. “

Fueled by years of investment in technology under XPO, GXO will be in a strong position to capitalize on the centuries-old prevailing tailwinds in the logistics industry: the growth of e-commerce and omnichannel retail, the growing customer demand for automation and digital capabilities, and a shift towards outsourcing of supply chain services. GXO will relentlessly focus on its strategic priorities and blue chip customer base, with a standalone equity motto to create long-term value for its stakeholders.

“The brand identity of the new company captures the qualities that make us an industry leader – our ability to deliver faster, lighter and smarter logistics to customers at lower cost, using advanced automation. and data science, ”said Malcolm Wilson, CEO of XPO – Europe, who has been appointed CEO of GXO. “I look forward to leading our global team to the many new opportunities in our future. “

In December 2020, XPO announced its intention to separate itself from the logistics segment of its existing activities and create two purely industrial powers focused separately on transport and logistics. After separation, XPO will remain a global supplier of freight transportation, primarily trucks and truck brokerage, and GXO will be the second largest contract logistics provider in the world. The use of the new company name, logo and other branding elements will become effective once the split is complete.

Confidential files Form 10
XPO further announced that it has filed a confidential initial registration statement on Form 10 with the United States Securities and Exchange Commission for the planned spin-off of its logistics business. The filing represents another important step in the process required to complete the transaction, which the company continues to expect to take place in the second half of 2021.

The transaction is subject to various conditions, including the effectiveness of the Form 10 registration statement, receipt of tax advice from a lawyer, refinancing of XPO’s debt on terms satisfactory to the counsel of administration of XPO and final approval by the board of directors of XPO. . There can be no assurance that any Separation Transaction will take place or, if applicable, its terms or timing.

XPO retained Goldman Sachs & Co. LLC as financial advisor and Wachtell, Lipton,
Rosen & Katz as legal advisor to assist with the split process.

About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the world’s most successful businesses. The company is the second largest provider of contract logistics and the second largest freight broker in the world, and one of the top three providers of LTLs in North America. XPO uses a highly integrated network of 1,629 sites and more than 100,000 employees in 30 countries to help more than 50,000 customers manage their supply chains more efficiently. The company’s head office is in Greenwich, Connecticut, United States, and its European head office is in Lyon, France. Visit xpo.com for more information and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and Youtube.

Forward-looking statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be considered to be, forward-looking statements, including the above statements regarding the plans, benefits and timing of the contemplated spin-off transaction. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate”, “estimate”, “believe”, “continue”, “could”, “intend”, “may”, “Could”, “plan”, “potential”, “predict”, “should”, “will”, “expect”, “goal”, “projection”, “forecast”, “goal”, “direction” , “Perspective”, “effort,” target “,” trajectory “or the negative of these or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyzes made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the company deems appropriate in the future. circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions which may cause actual results, levels of activity, performance or achievements to differ materially from future results, levels of activity, performance or achievements. expressed or implied by these forward-looking statements. Factors that could cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: general economic conditions; the severity, magnitude, duration and aftermath of the COVID-19 pandemic and government responses to the COVID-19 pandemic; our ability to align our investments in fixed assets, including equipment, service centers and warehouses, with the demands of our customers; our ability to implement our cost and revenue initiatives; our ability to integrate and successfully realize anticipated synergies, cost savings and profit improvement opportunities with respect to the acquired companies; matters relating to our intellectual property rights; fluctuations in exchange rates; changes in the price of fuel and the fuel surcharge; natural disasters, terrorist attacks or similar incidents; risks and uncertainties regarding the potential timing and expected benefits of the proposed split of our logistics segment, including the final approval of the proposed split and the risk that the split will not be completed on the terms or schedule currently contemplated , if applicable; the impact of the proposed split on the size and diversity of our business activities; the ability of the proposed spin-off to receive tax-exempt treatment for US federal income tax purposes; our ability to develop and implement appropriate IT systems and to prevent failures or violations of such systems; our substantial debt; our ability to raise debt and equity; fluctuations in fixed and floating interest rates; our ability to maintain positive relationships with our network of third party transportation providers; our ability to attract and retain qualified drivers; labor issues, including our ability to manage our subcontractors, and the risks associated with labor disputes at our customers and the efforts of labor organizations to organize our employees; litigation, including litigation relating to alleged misclassification of independent contractors and securities class actions; the risks associated with our self-insured claims; the risks associated with defined benefit plans for our current and former employees; and government regulations, including trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the withdrawal of the United Kingdom from the European Union; and competition and price pressures.

All forward-looking statements set forth in this press release are qualified by these cautionary statements and there can be no assurance that the actual results or developments that we anticipate will materialize or, even if they materialize substantially, that they will have the expected consequences or effects. about us or our business or operations. The forward-looking statements set forth in this press release speak only as of the date hereof, and we assume no obligation to update any forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unforeseen events, except to the extent required by law.

Investor contact
XPO Logistics, Inc.
Tavio headley
+ 1-203-413-4006
[email protected]

Media contacts
XPO Logistics, Inc.
Joe checker
+ 1-203-423-2098
[email protected]

XPO Logistics Europe
Anne Lafourcade
+33 (0) 6 75 22 52 90
[email protected]

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