Deals
XPO Logistics Buying Norbert in $3.53 Billion European Deal
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XPO Logistics Inc. agreed to acquire European counterpart Norbert Dentressangle SA in a deal valued at $3.53 billion including debt, as it seeks to become one of the largest providers of supply-chain services in the world.
Founder Norbert Dentressangle will sell his family’s 67 percent ownership in the Lyon, France-based company for 217.50 euros per share, according to XPO. XPO, based in Greenwich, Connecticut, will then start a tender offer for the remaining stake at the same price. That reflects a 37 percent premium to Norbert’s closing price Tuesday in Paris of 159.10 euros a share, and a value of more than $2 billion in cash.