RE:XPO Considering Sale of Con-way Truckload Unit Three offers for the truckload division at Con-way
Some companies already are trying to get XPO Logistics Inc. Chief Executive Bradley Jacobs to take apart Con-way Inc., even before he’s done buying the trucker. Jacobs confirmed on Wednesday that he’s received three offers for the truckload division at Con-way, deals he says he is considering. Selling the truckload business would change the financial framework of the acquisition. It also would redraw the contours of the finished business, carving away the truckload operation while allowing XPO to focus on the less-than-truckload Con-way Freight business central to XPO’s strategy. Meanwhile, XPO is lining up an asset-backed loan of more than $1 billion and a term loan for about $1.75 billion to finance the deal.
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