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XPO Logistics (NYSE:XPO) is contemplating a sale of its freight forwarding unit, which could possibly be valued in a deal at $400M-$600M, Bloomberg reported after the market shut on Friday.
The unit, which performs duties together with documentation and supplying cargo insurance coverage, might appeal to curiosity from different logistics corporations and personal fairness corporations, in response to the report.
XPO (XPO) spun off its contract logistics unit and offered its intermodal enterprise for $710M earlier this yr.
This week, the corporate reported higher than anticipated Q1 adjusted earnings and document quarterly revenues.