GXO Logistics explores sale after receiving takeover interest, source says
By Sabrina Valle
NEW YORK, Oct 9 (Reuters) -GXO Logistics GXO.N, a contract logistics provider with a market value of roughly $6 billion, is exploring options, including a potential sale, after receiving takeover interest, according to a person familiar with the matter.
Greenwich, Connecticut-based GXO is working with a financial advisor to field acquisition interest from potential buyers, which include rival logistics providers, the source said, requesting anonymity as the discussions are confidential.
GXO has not made a final decisionto proceed with a sale, and it is possible that the talks may not result in a deal, the source added.
GXO declined to comment.
GXO's shares jumped more than 8% on the news in trading after the bell on Wednesday.
Reporting by Sabrina Valle in New York; Writing by Anirban Sen; Editing by Paritosh Bansal
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