XPO to acquire Pacer for $335M

XPO Logistics (XPO) has agreed to acquire Pacer International (PACR +3.2%) for $335M in cash and stock, well above the latter's market cap of $294.3M at the close of trade on Friday.

Pacer is North America's third-largest provider of intermodal services, which move goods in containers between different forms of transport such as truck, train and ship.

XPO expects the acquisition to double its annual revenues to around $2B. (PR)

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