June 4 - UPS sells while XPO spins: A look at transport M&A

Why analysts say the time is right for XPO to become 2; XPO CEO: More acquisitions possible once spinoff is complete; UPS sells Freight segment to TFI for $800M; 'No sweat': TFI open to more M&A as it streamlines UPS Freight View online | Signup | Forward

Daily Dive June​ 4,​ 2021 | Today's news and insights for transport leaders Note from the editor Knight-Swift announced Tuesday that it acquired UTXL, a broker that offers TL, LTL, expedited and multi-stop shipping in North America. This is just one of the latest M&A moves, a trend experts predicted would pick up this year. One of the most intriguing aspects of M&A is that it can come in multiple forms. There are blockbuster acquisitions, like when UPS sold its freight division to TFI for a cool $800 million. Then there are special purpose acquisition companies, or SPACs, which have been popular with startups. And there are smaller equity stakes and other types of deals in between. Today's newsletter highlights some of the M&A activity that has gone on in trucking so far this year. Do you think there will be anymore blockbuster acquisitions? Do you see any mergers on the horizon? Tell me your thoughts. Take care, S.L. Fuller Editor, Transport Dive Twitter | Email Why experts are bullish on transport M&A in 2021 "Pent-up" demand to buy is already showing its face this year, with James Richardson & Sons and Wescan Capital acquiring 100% of the shares of Bison Transport. Why analysts say the time is right for XPO to become 2 External factors and CEO Bradley Jacobs' endgame makes this move "smart," one expert said. XPO CEO: More acquisitions possible once spinoff is complete Bradley Jacobs turned XPO into a trucking powerhouse over the years by growing the LTL company organically and through absorbing other firms. UPS sells Freight segment to TFI for $800M The sale focuses UPS on its core parcel businesses while allowing TFI to expand its diverse trucking portfolio in a continued acquisition spree. 'No sweat': TFI open to more M&A as it streamlines UPS Freight To cut UPS Freight costs, TFI is drawing on lessons it learned when it acquired CFI from XPO Logistics in 2016. Leonard's Express expands reefer capacity through M&A as spot rates rise The carrier is acquiring Holman Transportation Services, which hauls in the food and grocery, dairy, and frozen food industries. Lion Electric's journey to the NYSE, explained Special purpose acquisition companies, or SPACs, are trendy, and they have been helping green truck companies go public. Read more news What We're Reading The Wall Street Journal Biden Signals Flexibility on Taxes for Infrastructure Logistics Management ODFL issues solid second quarter update American Journal of Transportation House panel probing $700 million Covid aid loan to trucking firm FreightWaves Highway groups sue FCC over Wi-Fi safety band decision Reuters Empty supply chain will keep global economy booming: Kemp Utility Dive Transition away from natural gas necessary to meet climate goals but creates equity concerns, experts say Suggest a story we should read Dive Into a Topic Technology Regulatory Workforce Safety Operations Equipment Infrastructure Share Transport Dive: Daily Dive with others and get rewarded. You've referred 0 readers. To become an official Dive Insider, just successfully refer 10 contacts to Transport Dive: Daily Dive. Here's your link to share: https://www.transportdive.com/signup/insiders/?signup_referred_by=5f93078d7aa51972095c9316

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