XPO Logistics Acquires Norbert Dentressangle
(Thomson Reuters ONE) -
GREENWICH, Conn. - June 8, 2015 - XPO Logistics, Inc. (NYSE: XPO) ("XPO") today
announced that it has consummated the previously announced agreement to purchase
all of the shares of Norbert Dentressangle SA held by Mr. Norbert Dentressangle
and his family, representing 67% of the company's outstanding shares, at a price
of 217.50 euros per share.
Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said,
"We're delighted to welcome the customers, employees and suppliers of Norbert
Dentressangle to XPO. This combination is an important step in the continued
execution of our growth strategy."
Begins Rebranding as XPO Logistics
In Europe, the iconic red trucks formerly representing Norbert Dentressangle are
being repainted to announce #WeAreXPO. XPO Logistics trucks will debut at the
Grand Départ of the Tour de France in July, continuing a long-standing
partnership as the official logistics partner of the Tour de France.
For further information: www.xpo.com and www.norbert-dentressangle.com.
About XPO Logistics, Inc.
XPO Logistics, Inc. (NYSE: XPO) is a top ten global provider of cutting-edge
supply chain solutions to the most successful companies in the world. The
company provides high-value-added services for surface transportation, including
freight brokerage, intermodal, last mile and expedite; highly engineered
contract logistics; warehousing and distribution; and global forwarding by
ground, air and sea. XPO serves more than 30,000 customers with a highly
integrated network of over 52,350 employees and 863 locations in 27 countries.
www.xpo.com
XPO's corporate headquarters is in Greenwich, Conn., USA, and its European
headquarters is in Lyon, France. On June 8, 2015, XPO acquired 67% of the
outstanding shares of Norbert Dentressangle SA. The remaining stock is traded as
GND on Euronext Paris / Euronext London - Isin FR0000052870. www.norbert-
dentressangle.com
Tender Offer
In accordance with French law, XPO will launch, in the coming days, an all-cash
simplified tender offer to acquire the remaining outstanding shares of Norbert
Dentressangle SA at a price of 217.50 euros per share. The draft documentation
relating to the public offer will include the terms and conditions of the offer
and will be subject to review by the Autorité des marchés financiers. The offer
will only be opened after the AMF has granted its clearance. The tender offer
would be followed by a squeeze out of minority shareholders if the conditions
are met at the end of the offer. Ledouble SAS has been appointed as independent
expert pursuant to art. 261-1 I and II of the AMF Regulations, and has concluded
that the offer price is fair, notably in view of the squeeze out.
Forward-looking Statements
This press release includes 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 deemed to be, forward-looking
statements. 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," "plan," "potential," "predict," "should,"
"will," "expect," "objective," "projection," "forecast," "goal," "guidance,"
"outlook," "effort," "target" or the negative of these terms 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 analyses made by us in light of our experience and our
perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.
These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Factors that might cause or contribute to a material
difference include those discussed in XPO's filings with the SEC and the
following: economic conditions generally; competition; XPO's ability to find
suitable acquisition candidates and execute its acquisition strategy; the
expected impact of the Norbert Dentressangle SA ("ND") acquisition, including
the expected impact on XPO's results of operations; XPO's ability to
successfully complete the contemplated tender offer and the squeeze out of ND's
publicly held shares; the ability to successfully integrate and realize
anticipated synergies and cost savings with respect to ND and other acquired
companies; XPO's ability to raise debt and equity capital; XPO's ability to
attract and retain key employees to execute its growth strategy, including
retention of ND's management teams; litigation, including litigation related to
alleged misclassification of independent contractors; the ability to develop and
implement a suitable information technology system; the ability to maintain
positive relationships with XPO's and ND's networks of third-party
transportation providers; the ability to retain XPO's, ND's and other acquired
companies' largest customers; rail and other network changes; weather and other
service disruptions; and governmental regulation. 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 anticipated
will be realized or, even if substantially realized, that they will have the
expected consequences to, or effects on, XPO or its businesses or operations.
Forward-looking statements set forth in this press release speak only as of the
date hereof, and XPO undertakes no obligation to update forward-looking
statements to reflect subsequent events or circumstances, changes in
expectations or the occurrence of unanticipated events except to the extent
required by law.
Investor Contact:
XPO Logistics, Inc.
Tavio Headley, +1-203-930-1602
tavio.headley(at)xpo.com
Media Contact:
Brunswick Group
Gemma Hart, +1-212-333-3810
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: XPO Logistics, Inc. via GlobeNewswire
[HUG#1927141]
Unternehmensinformation / Kurzprofil:
Datum: 08.06.2015 - 22:46 Uhr
Sprache: Deutsch
News-ID 399012
Anzahl Zeichen: 7576
contact information:
Town:
Greenwich
Kategorie:
Business News
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