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Why GXO Stock Is Soaring Today


GXO (NYSE: GXO) named a new leader and won regulatory approval to integrate a big acquisition. Investors are celebrating the developments, sending shares of the contract logistics provider up 11% as of 2 p.m. ET.

Image source: GXO.

GXO operates warehouses and supply chain networks for large corporate and government customers. Last year, the company acquired Wincanton for $962 million to boost its European capabilities, but it has been barred from fully integrating the deal due to United Kingdom Competition and Markets Authority (CMA) concerns.

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Source Fool.com

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