Buchanan, Michigan-based XPO Logistics has initiated a public offering of 6 million shares of its common stock, subject to market and other conditions.
XPO said it expects to grant the underwriters a 30-day option to purchase an additional 900,000 shares of common stock. Morgan Stanley & Co., Deutsche Bank Securities, and Jefferies & Co. are acting as a joint book-running manager for the offering.
XPO said the proceeds of the offering will be used for general purposes, which can include acquisitions and asset purchases. The shares are offered pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission.
XPO Logistics is a non-asset based third-party logistics provider of freight transportation services for ground, sea, and air.
XPO Logistics makes stock offering
