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XPO Adds to Deal Haul With Trucker Con-way for $3 Billion

  • Purchase extends CEO's acquisition streak dating to 2011
  • Per-share offer is 32% more than Tuesday's closing price
Updated on

XPO Logistics Inc., the acquisitive supply-chain services company, agreed to buy trucker Con-way Inc. in an all-cash deal valued at $3 billion.

The purchase extends the string of transactions that have helped XPO become a powerhouse in the global logistics market under Chief Executive Officer Brad Jacobs since 2011, when his private-equity fund invested $135 million in the company. Under Jacobs, XPO has completed at least 14 mergers and boosted its revenue almost 40-fold to a projected $6.7 billion this year.