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XPO Completes Spinoff of RXO
- Client News
- November 1, 2022
Paul, Weiss advised XPO in its spinoff of RXO, Inc., creating two independent, publicly traded companies. XPO is a leading provider of less-than-truckload transportation in North America, and RXO is the fourth-largest U.S. truckload broker. The separation was completed through a tax-free distribution to XPO stockholders of one share of RXO common stock for every one share of XPO common stock held as of the close of business on October 20.
The Paul, Weiss team included corporate partners David Huntington and Steven Williams, counsel David Sobel and Frances Mi and Jason Tyler; tax partners Jeffrey Samuels and Scott Sontag and counsel Alyssa Wolpin; intellectual property partner Jonathan Ashtor and counsel Elana Bensoul; executive compensation partner Lawrence Witdorchic; and real estate partner Peter Fisch.