October 24, 2024 - $GXO Logistics (GXO.US)$ shares increased 14.01% to $58.029 on Thursday.
Reuters reported Thursday, that sources familiar with the matter have stated that logistics service provider GXO Logistics is exploring a potential sale following a takeover interest.
GXO was spun off from trucking company XPO in 2021. The sources mentioned that the company is working with a financial advisor to field acquisition interest from suitors, which include rival logistics providers, the source said, requesting anonymity as the discussions are confidential. They added that GXO has not yet made a final decision regarding a sale, and these talks may not necessarily result in a transaction.
Notably, a spokesperson for GXO declined to comment. Additionally, Morgan Stanley has maintained its "buy" rating for the company, with a target price of $70.
About Company
GXO Logistics, Inc. provides logistics services. It offers warehousing and distribution, order fulfillment, e-commerce, reverse logistics and other supply chain services.
