XPO Logistics Completes Squeeze-Out Process for XPO Logistics Europe

Rhea-AI Summary

XPO Logistics, Inc. has completed a buy-out offer for the remaining 3% of shares in XPO Logistics Europe, resulting in a cash payout of €315 per share, amounting to approximately €108 million total. This transaction was finalized on June 4, 2021, with support from the Supervisory Board and approval from the French Autorité des marchés financiers. Following this, XPO Logistics Europe shares were delisted from Euronext Paris on May 27, 2021. XPO continues to operate globally, providing supply chain solutions across 30 countries.

Positive

• Completion of the buy-out offer for remaining 3% of shares enhances ownership structure.
• Total cash consideration of approximately €108 million strengthens company capital.

Negative

• Delisting of XPO Logistics Europe shares from Euronext Paris could reduce liquidity for former shareholders.

GREENWICH, Conn., June 10, 2021 (GLOBE NEWSWIRE) --  XPO Logistics, Inc. (NYSE: XPO) has completed the previously announced buy-out offer and squeeze-out for the remaining 3% of XPO Logistics Europe, SA shares that it did not already own. The French Autorité des marches financiers set the effective date of the squeeze-out as June 4, 2021. The former minority shareholders of XPO Logistics Europe have and will receive, as part of the buy-out offer and the subsequent squeeze-out, a payment of €315 per share, resulting in a total cash consideration of approximately €108 million.

The transaction was supported by the Supervisory Board of XPO Logistics Europe and approved by the French Autorité des marches financiers. Trading of XPO Logistics Europe shares on Euronext Paris was discontinued on May 27, 2021.

About XPO Logistics

XPO Logistics, Inc. (NYSE: XPO) provides cutting-edge supply chain solutions to the most successful companies in the world, with two business segments: transportation and logistics. The company helps more than 50,000 customers manage their supply chains most efficiently, using a network of 1,621 locations in 30 countries and approximately 140,000 team members, including 108,000 employees and 32,000 temporary workers. The company’s corporate headquarters are in Greenwich, Conn. Visit xpo.com for more information, and connect with XPO on Facebook, Twitter, LinkedIn, Instagram and YouTube. 

Contacts
XPO Logistics, Inc.
Tavio Headley
+1-203-413-4006
tavio.headley@xpo.com

XPO Logistics Europe
Anne Lafourcade
+33 (0)6 75 22 52 90
anne.lafourcade@xpo.com

FAQ

What is the cash payout per share from XPO's buy-out offer?

XPO's buy-out offer provides a cash payout of €315 per share.

When was the squeeze-out effective for XPO Logistics Europe shares?

The squeeze-out was effective on June 4, 2021.

How much total cash consideration was provided in the buy-out offer?

The total cash consideration in the buy-out offer was approximately €108 million.

What happened to XPO Logistics Europe shares on May 27, 2021?

Trading of XPO Logistics Europe shares was discontinued on Euronext Paris on May 27, 2021.