XPO Logistics To Pay $335M For Rail Freight Expert Pacer

Law360, New York (January 6, 2014, 4:03 PM EST) -- Private equity-backed transportation-services company XPO Logistics Inc. will buy rail freight expert Pacer International Inc., the largest provider of intermodal services between the U.S. and Mexico, for $335 million, the two announced Monday.

XPO will pay $6 per share and give $3 worth of XPO common stock for each Pacer share, it said in a press release. Most of Pacer's executives will stay on in their previous roles, it said.

“This transaction will make us the third largest North American provider of intermodal services, one of...
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