Is there really any overarching plan in place at XPO Logistics (XPO)?
I ask that because this company has shifted gears so abruptly so many
times over the years, that transmission has to be pretty well stripped
by now. First the company was going to be a roll-up of asset-light
logistics services companies … then it became decidedly more asset
heavy. And now management apparently is looking to (or at least willing
to consider) auction off everything but the U.S. less-than-truckload
business.
I shouldn’t complain – these shares are up 75% from my bullish call back in June
(and were up about 50% before the announcement of the strategic
review). And you know, if the overarching plan is to create maximal
value for shareholders by whatever legal means necessary, that’s not so
bad. Either way, with break-up values in excess of $100/share now in
play and no real sense of what the long-term strategy is now, I can’t
say I’m as bullish on the shares now.
Read more here:
XPO Logistics Shifts Gears Yet Again
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