GXO Logistics , the world’s largest contract logistics provider, is open to sizeable takeover deals of more than $1 billion in Canada, Chief Executive Malcolm Wilson said earlier this week.
GXO CEO Malcolm Wilson walks on the trading floor at the New York Stock Exchange in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew Kelly, the world’s largest contract logistics provider, is open to sizeable takeover deals of more than $1 billion in Canada, Chief Executive Malcolm Wilson said earlier this week.
The CEO said GXO mainly targets “very large” companies in line with the size of Clipper or more, adding that nothing smaller is worth its while. It could consider a sizeable acquisition in Canada to fill geographical gaps, or verticals such as omnichannel retail and aerospace where GXO is not present in a specific country, he added.
. GXO expects to generate a total of $2 billion of free cash through to 2027, which it can use for share buybacks, mergers and acquisitions, and organic growth, Wilson said in an interview in London on Monday. GXO had $1.9 billion of total debt as of the end of September.
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