XPO, Inc. XPO → GXO Logistics, Inc. GXO
| Parent | XPO, Inc. XPO |
|---|---|
| Spinco | GXO Logistics, Inc. GXO |
| Status | Completed |
| Structure | Spin-off A filing states a pro-rata distribution: holders receive shares automatically. |
| Focus | Not focus-increasing Parent and spinco remain in the same industry; the separation divides scale rather than business. |
| Ratio | 1 GXO share for every 1 XPO share |
| Checked against EDGAR | 2026-08-22 |
Data trap
The final Form 10 amendment carries only an auditor consent — no information statement, so it states no ratio, record date or distribution date. Anything that reads the last-filed amendment and stops finds an empty deal. The terms live in the previous amendment and in the definitive information statement attached to the July 26 8-K. Note also that the parent has since renamed itself XPO, Inc.; every filing here was made as XPO Logistics, Inc.
The restated filings have landed; this is kept as history.
Catalyst clock
- 2020-12-02Separation announced
- 2021-06-09Form 10 filed
- 2021-07-20Form 10 last amended
- 2021-07-21Form 10 effective
- 2021-07-23Record date
- —When-issued trading opens
- 2021-08-02Distribution
- 2021-11-01First standalone earnings
- —Index inclusion announced
Performance since separation
| GXO Logistics, Inc. since separation | -27.51% |
|---|---|
| XPO, Inc. over the same window | +296.43% |
| S&P 500 (SPY) over the same window | +74.99% |
| Russell 2000 (IWM) over the same window | +36.38% |
| Excess over the S&P 500 | -102.50% |
| Excess over the Russell 2000 | -63.89% |
Measured from the first regular-way close on or after the distribution — 2021-08-02 at 63.07 — to 2026-08-21 at 45.72. Window: 5.1 years. Two benchmarks, because one is misleading: spin-offs are usually small companies, and across this period small caps lagged the S&P by several points a year on their own. Measured against the S&P alone, roughly a third of any shortfall is company size rather than the separation. Returns are arithmetic over end-of-day closing prices. Unlike every other figure on this page, they do not come from a filing.
Pre-distribution investor return
| Parent, announcement to separation | price history starts after the separation |
|---|---|
| Combined (XPO, Inc. + GXO Logistics, Inc.), pre-distribution to now | +407.53% |
| Combined excess over the S&P 500 | +332.91% |
| Combined excess over the Russell 2000 | +371.83% |
Combined treats a pre-spin holding as 1 GXO share for every 1 XPO share valued at the parent's last close before regular post-spin trading resumed — 2021-07-30 at 47.97 — against that same basket today. That baseline is a practical proxy, not an attempt to isolate exactly how much value the separation transferred: for a large parent and a small spinco, ordinary day-to-day price noise can be bigger than the transfer itself.
Filings
Every fact on this page comes from one of these.
- 10-12Bfiled 2021-06-09 · 0001628280-21-011851Initial Form 10 registration statement
- 10-12B/Afiled 2021-07-19 · 0001628280-21-013999Amendment 3, the last amendment carrying an information statement: 1-for-1 ratio, July 23 record date, August 2 distribution, 114,602,061 shares
- 10-12B/Afiled 2021-07-20 · 0001628280-21-014065Amendment 4, the final amendment — contains only an auditor consent and no information statement
- 8-Kfiled 2021-07-26 · 0001628280-21-014463Definitive information statement dated July 23, 2021 furnished as Ex-99.1
- 8-Kfiled 2021-08-02 · 0001628280-21-015181Completion: distribution effective 12:01 a.m. Eastern on August 2, 2021
Notes
XPO's separation of its contract logistics business, distributed one-for-one so every XPO holder received a matching GXO share. Classified non-focus-increasing: both companies remain transportation and logistics providers under the same four-digit SIC, and the split is between customer models rather than industries.