The company’s statement follows the completion of the spin-off of GXO Logistics (the logistics business) on August 3, 2021

It has not yet been determined how much the new shares would cost or how many XPO stockholders will receive. Subject to a number of conditions, such as the effectiveness of a Form 10 registration statement, receipt of a tax opinion from counsel, refinancing of XPO’s debt on terms acceptable to the XPO board of directors, and final approval by the XPO board of directors, among others, the company anticipates completing the planned spin-off in 4Q22. In order to help with the anticipated spinoff, XPO Logistics has recruited Paul, Weiss, Rifkind, Wharton & Garrison LLP, and Wachtell, Lipton, Rosen & Katz as its legal consultants in addition to BofA Securities, Goldman Sachs & Co. LLC, and Morgan Stanley & Co. LLC as its financial advisors. 



It has not yet been determined how much the new shares would cost or how many XPO stockholders will receive

After the spin-off, XPO’s North American LTL business would be the third-largest supplier of domestic and international LTL freight shipping, a pure-play LTL industry leader, and own a competitively advantageous network of transportation assets managed by proprietary technology. After the separation, NewCo (Spin-Off) would be a market-leading platform for tech-enabled truck brokerage services in North America, with a history of best-in-class revenue and margin growth, access to a sizable truckload capacity, and complementary, asset-light offerings for last-mile logistics, managed transportation, and international forwarding. The company’s corporate offices are expected to be in Charlotte, North Carolina, and it offers high-tech truck brokerage services. The less-than-truckload (LTL) component of XPO’s North American business is anticipated to have its corporate headquarters in Greenwich, Connecticut. The trucking LTL division of XPO Logistics will continue to operate under the same management and ticker symbol. In relation to the top management of the truck brokerage company, XPO has not yet made any announcements.