Industrials Company GXO Logistics Announces Merger With PFSweb
GXO Logistics (NYSE:GXO) has announced a merger with PFSweb (NASDAQ:PFSW) that is expected to be completed in Q4 of 2023.
Under the terms of the agreement, GXO Logistics has agreed to give PFSweb $181.00 million in cash in exchange for PFSW stock.
About The Companies Involved
GXO Logistics Inc is a contract logistics company. Its revenue is diversified across numerous verticals and customers, including many multinational corporations.
PFSweb Inc is a commerce services company. The company operating segments includes PFS Operations.
How A Merger Works
A merger happens when a company combines operations with another company. In practice, one company will buy the other company's stock in exchange for its own stock. In some cases, cash is used to pay for the company's stock but usually the companies agree to a stock-for-stock transaction.
Due to the exchange and acquisition of stock, a merger is similar to an acquisition. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.