XPO Logistics Spin-Off, GXO Logistics, to Ring NYSE Opening Bell®
July 30 2021 - 3:00PM
XPO Logistics, Inc. (NYSE: XPO) today announced that the executive
team and members of the board of directors of GXO Logistics, Inc.
will ring the New York Stock Exchange’s Opening Bell® at 9:30 a.m.
EDT on Monday, August 2, 2021, launching GXO as the world’s largest
pure-play contract logistics provider.
As previously announced, GXO is expected to separate from its
parent company, XPO, and begin regular-way trading on the New York
Stock Exchange under the symbol “GXO.” The distribution of GXO
common stock completes at 12:01 a.m. EDT on August 2, 2021, with
each XPO stockholder of record as of the close of business on July
23, 2021, the record date, receiving one share of GXO common stock
for every share of XPO common stock.
GXO will be the largest pure-play contract logistics provider in
the world, with approximately 94,000 team members and 869 logistics
facilities in 27 countries. GXO will be well-positioned to
capitalize on significant secular tailwinds driving customer
demand, including e-commerce growth, logistics automation and
supply chain outsourcing.
About the GXO Spin-OffXPO expects to spin off
its logistics segment on August 2, 2021, creating two pure-play
industry powerhouses: XPO Logistics and GXO Logistics. The
separation will create two independent public companies with
distinct investment identities and service offerings in vast
addressable markets. Completion of the spin-off is subject to
various conditions, and there can be no assurance that the
transaction will occur or, if it does occur, of its terms or
timing. Visit gxo.com for more information.
About XPO LogisticsXPO Logistics, Inc. (NYSE:
XPO) provides cutting-edge supply chain solutions to the most
successful companies in the world, with two business segments:
transportation and logistics. The company helps more than 50,000
customers manage their supply chains most efficiently, using a
network of 1,621 locations in 30 countries and approximately
140,000 team members, including 108,000 employees and 32,000
temporary workers. The company’s corporate headquarters are in
Greenwich, Conn., USA. Visit xpo.com for more
information, and connect with XPO on Facebook, Twitter, LinkedIn,
Instagram and YouTube.
Forward-looking StatementsThis press release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. All statements
other than statements of historical fact are, or may be deemed to
be, forward-looking statements, including the statements above
regarding plans, benefits and timing of the contemplated spin-off
transaction.
Media ContactsXPO Logistics, Inc.Joe
Checkler+1-203-423-2098joe.checkler@xpo.com
XPO Logistics EuropeAnne Lafourcade+33 (0)6 75 22 52
90anne.lafourcade@gxo.com
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