XPO Logistics to buy Norbert Dentressangle for $3.53 billionStaff writer ▼ | April 29, 2015
XPO Logistics has agreed to buy France's Norbert Dentressangle for $3.53 billion, including debt, in a deal it says will make it one of the top 10 logistics company in the world.
Acquisition To make one of the top 10 logistics companies
XPO said the total transaction value of about 3.24 billion euros would include 1.08 billion euros of net debt.
Founder Norbert Dentressangle will sell his family's 67 percent stake in the Lyon-based company for 217.50 euros ($239) per share, a 34 percent premium to the stock's close on Monday. XPO will launch a tender offer for the remaining shares at the same price.
Following the deal, Norbert Dentressangle Chief Executive Hervé Montjotin, will be chief executive of XPO's European business and president of the parent company. ■