FedEx Discloses It Paid $1.4B To Acquire Logistics Co. Genco
Law360, New York (March 20, 2015, 12:07 PM EDT) -- FedEx Corp. paid $1.4 billion for third-party logistics provider Genco Distribution System Inc. to bolster its e-commerce platform, disclosing the price of the previously announced acquisition in its quarterly regulatory filing Thursday, using proceeds from a $2.5 billion bond.
The shipping giant’s debt-financed addition of Genco, a reverse logistics companies that processes return items from its more than 130 warehouse across North America, is expected to upgrade its supply chain management for the retail and e-commerce markets.
FedEx also said Thursday it paid $42 million cash for Bongo International Ltd. in the fiscal third quarter of 2015, another acquisition intended to...
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