PFSW - Big Moves In Logistics: GXO Acquires PFSweb For $181M To Expand Its Luxury & Cosmetics Offerings | Benzinga
Logistics company GXO Logistics Inc (NYSE: GXO) has entered into a definitive agreement to acquire eCommerce order fulfillment provider PFSweb Inc (NASDAQ: PFSW) for $7.50 per share in cash, representing an equity value of approximately $181 million.
The deal price represents a premium of 50% to PFSW's last closing price of $5.01.
The enterprise value is $142 million and includes PFSweb's cash balance of $39 million on June 30, 2023.
Texas-based PFSweb serves luxury brands worldwide through 11 distribution centers ...