GXO Logistics is exploring a possible sale after receiving takeover interest, according to a report in Reuters.
The company did not respond to requests by Motor Transport for a comment, but shares in GXO leapt by more than 8% this week following news that the logistics service provider was considering possible acquisition requests.
The company is a spin-off of XPO and employs over 130,000 people across more than 970 facilities in 27 countries.
Reuters said it was working with a financial adviser to assess possible suitors, including those from rival logistics businesses.
GXO’s performance has improved in recent quarters; its chief executive Malcolm Wilson hailed record revenues of $2.8bn in Q2, reflecting growth of 19% year over year.
It also completed its acquisition of Wincanton, which Wilson said would provide a platform for it to grow in aerospace and defence and industrials across Europe.
It is expected the Wincanton brand will disappear as part of the acquisition, if GXO follows the same strategy it did with Clipper Logistics, which it bought in 2022 and which now goes under the brand GXO Logistics.
