XPO Logistics Surges as It Reviews Strategic Options

XPO is exploring a sale or spin-off of one or more business units.
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Shares of XPO Logistics, Inc.  (XPO) - Get Report surged in after-hours trading Wednesday after the company said it is exploring the sale or spin-off of one or more of its business units. 

Bradley Jacobs, chairman and chief executive officer of XPO, said in a statement that "we continue to trade at well below the sum of our parts and at a significant discount to our pure-play peers," in spite of strong share performance over the past decade. 

The company does not intend to sell or spin off its North American less-than-truckload unit, according to the statement.

Shares rose 11.98, or 14.5%, to $94.80 in after-hours trading.

XPO retained Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as its financial advisors and Wachtell, Lipton, Rosen & Katz as its legal advisor to assist with the review process, the statement said. 

Jacobs is scheduled to appear on Mad Money with Jim Cramer Wednesday evening.