GXO is the former global logistics segment of XPO Logistics (NYSE: XPO) and successfully spun off today as the world's largest pure-play contract logistics provider. “This is an exciting milestone in GXO's history.
What is the difference between XPO and GXO?
XPO is a leading provider of freight transportation services, primarily less-than-truckload transportation and truck brokerage services, and GXO is the largest pure-play contract logistics provider in the world.
Why XPO changed to GXO?
The new company is called GXO — three letters that stand for the game-changing opportunities we're bringing to the table for customers, employees and shareholders, with a nod to our XPO heritage.
Is GXO a subsidiary of XPO?
XPO Logistics, provider of freight transportation and truck brokerage services, has confirmed its previously announced spin-off of GXO, which it says is the largest contract logistics provider in the world.
Do XPO shareholders get GXO?
Under the terms of the previously announced separation, XPO stockholders received one share of GXO common stock for every one share of XPO common stock held as of the close of business on the record date for the distribution, July 23, 2021.
30 related questions foundHow many shares of GXO will XPO shareholders get?
Upon completion of the distribution, each XPO stockholder as of July 23, 2021, the record date for the distribution, will receive one share of GXO common stock for every share of XPO common stock held as of the close of business on the record date.
What company did XPO spin-off?
The company's announcement comes in after the spin-off of GXO Logistics (Logistics business), which was completed on August 3, 2021. The pricing of the new shares and the number of shares XPO shareholders would receive are yet to be decided.
What kind of company is GXO?
GXO Logistics (doing business as GXO) is an American global contract logistics company that manages outsourced supply chains and warehousing.
Is GXO Logistics a good company to work for?
Is GXO Logistics a good company to work for? GXO Logistics has an overall rating of 3.4 out of 5, based on over 274 reviews left anonymously by employees. 64% of employees would recommend working at GXO Logistics to a friend and 59% have a positive outlook for the business.
Who bought GXO?
Under the terms of the acquisition, GXO said that Clipper shareholders will receive 690 pence in cash ($9.26 USD) for each Clipper share and 0.0359 New GXO shares.
What does GXO company stand for?
“Today, we took an exciting step forward on our path to spinning off our logistics segment. The new company is called GXO — three letters that stand for the game-changing opportunities we're bringing to the table for customers, employees and shareholders, with a nod to our XPO heritage.
What do GXO Logistics do?
We design, manage and optimize supply chains
We help customers get the most out of their supply chains by improving the flow of goods, from ecommerce fulfilment and flexible distribution to warehouse automation and reverse logistics.
Who owns XPO?
In September 2011, American businessman Brad Jacobs acquired Express-1 Expedited Solutions, Inc. and became its chairman and CEO. The company changed its name to XPO Logistics – a reference to Express-1's AMEX ticker symbol, "XPO" – and began acquiring other companies in the transportation and logistics sector.
Should I invest in GXO Logistics?
There are currently 4 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" GXO Logistics stock.
Who is buying XPO Logistics?
STG Logistics has acquired XPO Logistics' intermodal division, the third-largest provider of containerized transportation services in North America, in an all-cash transaction totaling approximately $710 million.
Is GXO publicly traded?
as a publicly traded pure-play contract logistics provider culminated with GXO officials ringing the New York Stock Exchange opening bell Aug. 2. GXO trades under the symbol GXO, and eligible XPO stockholders received GXO common stock.
When did GXO go public?
GXO Logistics will sell shares to the public for the first time Aug. 2 on the New York Stock Exchange, executives said during an investor day presentation July 13. XPO Logistics Inc. has been working for nearly a year to spin off the global contract logistics operations into its own publicly traded company.
How many warehouses does GXO Logistics have?
GXO operates as a highly integrated network of people, technology and physical assets in 27 countries, with 869 locations, 208 million sq ft of warehouse space, and approximately 94,000 team members, all dedicated to efficiently managing our customers' goods.
What is GXO warehouse?
GXO is a global warehousing leader in the storage and management of goods. In the US, our large network of sites offers variable-cost solutions for general and specialized storage, including food-grade and chemical products.
How many employees does GXO have?
About GXO Logistics
(NYSE: GXO) is the world's largest pure-play contract logistics provider. GXO is committed to providing a world-class, diverse workplace for its 94,000 team members across 869 warehouse locations totaling 208 million square feet.
Is XPO Logistics changing their name?
On Aug. 2, XPO Logistics (XPO -1.70%) will split into two companies. The contract logistics part of the business will be renamed GXO Logistics, while the transportation portion, which includes the less-than-truckload business, the freight brokerage, and the last-mile delivery business will remain with XPO.
Is GXO buying Clipper?
The boards of directors of GXO Logistics and Clipper Logistics plc agreed this week to a cash and share acquisition of Clipper by GXO, worth approximately $1.3 billion.
