XPO turned a $3B Con-way acquisition into a $15B asset
Brad Jacobs · The Mindset Behind Building a Great Little Business | Brad Jacobs · Aug 4, 2026 · at 27:30
Brad Jacobs recounts the financial performance and subsequent spin-offs following XPO's 2015 acquisition of trucking company Con-way.
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“We bought it for about Three billion dollars. Roughly half of it was equities. It really bought it for a billion and a half dollars plus, plus some leverage. Today it's worth something like fifteen billion dollars, and that's after having taken out Many, like, five billion dollars of net cash from it. That's after selling off five hundred fifty million dollars of the truckload business. That's after taking its warehouse business, its supply chain business, which was called Menlo, and putting that into our GXO subsidiary. That was after taking the brokerage business and putting that with our RXO brokerage business.”
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