TransForce buys XPO Logistics’ TL business for US $558M
MONTREAL, QC -- TransForce has purchased XPO Logistics' truckload business for US $558 million in cash. After XPO bought Con-way Inc. a year ago, Con-way Truckload's operations appeared to many observers to be an odd fit for XPO, which bills itself as the second largest freight brokerage provider in the world. In February, the Wall Street Journal reported that after evaluating and rejecting bids from three trucking companies, XPO would instead hold onto the unit. "I think we can improve it by integrating it and bringing it lots of new customers from our other service lines," CEO Bradley Jacobs told a WSJ reporter.