3/16/2012 10:20:00 AM
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XPO Logistics said it has commenced a $126 million public offering of 8 million shares of its common stock.
The third-party logistics provider said Thursday that it has increased the size of the offering to 8 million shares, up from the previously announced 6 million, at a price of $15.75 per share.
In a statement, XPO said it intends to use the proceeds of the offering for â€œgeneral corporate purposes, which may include potential acquisitions.â€�
The offering is expected to close March 20, the company said.
Morgan Stanley Co., Deutsche Bank Securities and Jefferies Co. are acting as joint book-running managers for the offering, XPO said.
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