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XPO Logistics to buy Norbert Dentressangle for $3.53 billion

Staff 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.
Norbert Dentressangle
Acquisition   To make one of the top 10 logistics companies
The deal will give XPO access to Europe's largest fleet network and push the company's annual revenue to about $8.5 billion, XPO said. The acquisition will be the biggest in the company's history and its second this year after its purchase of UX Specialized Logistics.

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.