Why GXO Stock Is Soaring Today
GXO (NYSE: GXO) named a new leader and won regulatory approval to integrate a big acquisition. Investors are celebrating the developments, sending shares of the contract logistics provider up 11% as of 2 p.m. ET.
Image source: GXO.
GXO operates warehouses and supply chain networks for large corporate and government customers. Last year, the company acquired Wincanton for $962 million to boost its European capabilities, but it has been barred from fully integrating the deal due to United Kingdom Competition and Markets Authority (CMA) concerns.
Source Fool.com
