XPO Logistics Reverses Its Acquisition Strategy, Aims for Breakup
XPO Logistics (NYSE: XPO) has become one of the biggest logistics companies in the world through a dedicated roll-up strategy. But now, in the face of a dimmer outlook and slumping share price, XPO is taking a surprising step away from mergers and acquisitions.
Over the last decade, under the guidance of CEO Brad Jacobs, the company has made a number of acquisitions, including the $3 billion takeover of Con-way in 2015 and the acquisition of France-based Norbert Dentressangle for $3.5 billion in the same year, which gave the company a strong position in Europe.
That acquisition strategy helped drive the stock up more than 1,700% over the last decade, making it one of the best performers in the S&P 500.
Source Fool.com
