XPO Logistics completes ND acquisition

The logistics roll-up has finalized its $3.5 billion purchase of French logistics and trucking company Norbert Dentressangle.    XPO Logistics said Monday it has finalized its deal to acquire French logistics and trucking company Norbert Dentressangle. 
   The $3.5 billion transaction was announced in late April.
   Per their agreement, XPO bought 67 percent of the Norbert Dentressangle family’s shares and took on the company’s debt. XPO is now launching an all-cash tender offer to acquire the outstanding shares of ND at a price of 217.50 euros per share.
   The Greenwich, Conn.-based XPO said it has already begun rebranding ND trucks with the XPO logo, some of which will be on hand as part of a sponsorship deal for Tour de France in July.
   Last week, XPO announced it was raising $3.25 billion in debt and equity to support its growth strategy, including the acquisition of ND.
   The ND acquisition puts XPO on track to generate $9.5 billion this year and gives it a foothold in the lucrative European logistics market for the first time.
   (For an in-depth analysis of XPO’s business strategy and technology capabilities, read the American Shipper June feature story, “Let’s Make a Deal.”)