On October 10, 2024, Bloomberg reported that global logistics giant Gxo Logistics—created from a spin-off of Gxo in 2021—is considering the possibility of a sale. Sources familiar with the matter indicated that the Greenwich, U.S.-based company has begun working with financial advisors after receiving expressions of interest from potential buyers. Bloomberg noted that no final decision has been made, and Gxo could still choose to remain independent. A company representative declined to comment on the report.
The release of this news led to an 8.3% surge in Gxo shares during Thursday's pre-market trading, marking the most significant potential gain since December 2022. Currently, Gxo's market value stands at around $6.1 billion, although the company has lost approximately 22% of its value since the spin-off, according to Bloomberg data. Xpo built Gxo through a series of acquisitions before spinning off the company to simplify its corporate structure. Xpo itself later spun off its road transport brokerage division in 2022.
If the sale of Gxo Logistics proceeds, it would be the second major global logistics transaction following the ongoing sale of DB Schenker to Dsv for over 14 billion euros by Deutsche Bahn, which is expected to be completed in 2025.
