XPO Shells Out $365M For Heavy Goods Shipper

Law360, New York (July 15, 2013, 1:36 PM EDT) -- Freight brokerage firm XPO Logistics Inc. expanded its offering of delivery services Monday by snapping up for $365 million third-party logistics company 3PD Inc., the largest provider of shipping services for heavy goods such as furniture, appliances, large-scale electronics and building supplies.

The bid is composed of about $357 million in cash and $8 million of XPO's restricted stock. 3PD is a leading provider of so-called last-mile logistics for heavy goods and its addition will help XPO provide a new high-value service for its customers, the...
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