GXO Logistics Weighs Sale Amid Takeover Interest

GXO Logistics, valued at about $6 billion, is considering a sale after receiving takeover interest. The company is consulting a financial advisor as it explores acquisition interest from rival logistics firms. No final decision has been made, and discussions remain confidential.

GXO Logistics, a contract logistics company with an estimated market value of $6 billion, is evaluating its strategic options, including a potential sale. This follows interest from prospective buyers, as per an insider aware of the situation.

Situated in Greenwich, Connecticut, GXO and a financial advisor are in the process of managing acquisition inquiries, primarily from competitor logistics firms, the source mentioned, remaining anonymous due to the confidential nature of the talks. It's noted that a sale isn't guaranteed, and negotiations might not culminate in a deal.

When approached for a statement, GXO declined to comment. Meanwhile, the company's stocks surged over 8% following the after-hours announcement on Wednesday.

(With inputs from agencies.)