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XPO Logistics, which announced Friday it had finalized its $3 billion acquisition of trucking and logistics provider Con-way Inc., will cut more than 10 percent of current Con-way staff at its Ann Arbor, Mich. headquarters and Portland, Ore. IT center.
Stock in both Canadian Pacific Railway Ltd. and Norfolk Southern Corp. shot up yesterday amid rumors the second-largest Class I railroad in Canada is mulling a potential takeover of NS.
Neptune Orient Lines, parent of liner company APL, has confirmed it has entered into talks with CMA CGM and Maersk about a potential sale, while COSCO and China Shipping told FMC Commisioner William Doyle they are in the "beginning stages of a merger."