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Fly News Breaks for September 10, 2015
CNW, XPO
Sep 10, 2015 | 10:53 EDT
Oppenheimer analyst Scott Schneeberger calls XPO Logistics' (XPO) acquisition of Con-way (CNW) "strategically logical" and reiterates an Outperform rating on the name. The combined company will still be two-thirds asset-light, with net capex a moderate 3.3% of revenue, Schneeberger tells investors in a research note. The deal also carries "significant" potential synergistic benefits, the analyst believes.
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