XPO Logistics exploring potential sales or spin-offs of various business units

The board of directors of Greenwich transportation titan XPO Logistics has authorized a review of strategic alternatives, including the possible sale or spin-off of one or more of XPO”™s business units.

“XPO is the seventh best-performing stock of the last decade on the Fortune 500, based on Bloomberg market data,” Chairman/CEO Bradley Jacobs said. “The share price has increased more than tenfold since our investment in 2011. Still, we continue to trade at well below the sum of our parts and at a significant discount to our pure-play peers. That”™s why we believe the best way to continue to maximize shareholder value is to explore our options, while remaining intensely committed to the satisfaction of our customers and employees.”

The company”™s stock closed yesterday at $82.82.

XPO said it has not set a timetable for completion of the review process and has not determined which, if any, business units would be sold or spun off. It noted, however, that it does not intend to sell or spin off its North American less-than-truckload unit.

The firm has retained Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as its financial advisers and Wachtell, Lipton, Rosen & Katz as its legal adviser to assist with the review process.