Fisherbroyles Acts as Legal Counsel to Pfsweb, Inc. in Connection With Its Sale By Merger To GXO Logistics, Inc.

DALLAS, TX—FisherBroyles, LLP is pleased to announce it has acted as legal counsel to its long-standing client, PFSweb, Inc. (“PFSweb”) – a Nasdaq listed premier eCommerce order fulfillment provider – in connection with its sale for an equity value of approximately $181 million to GXO Logistics, Inc. (“GXO”) pursuant to an Agreement and Plan of Merger.

The merger agreement provides for GXO, through a subsidiary, to commence a tender offer to acquire all outstanding shares of PFSweb at $7.50 per share in cash. The consummation of the tender offer will be subject to certain conditions, including the tender of at least a majority of the outstanding shares of PFSweb common stock, the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and other customary closing conditions.

Upon completion of the tender offer, GXO will acquire all PFSweb shares not acquired in the tender through a second-step merger. Upon closing the transaction, PFSweb will be removed from the Nasdaq Stock Exchange, and PFSweb will operate as a division within GXO. The transaction is expected to close in the fourth quarter of 2023.

The post Fisherbroyles Acts as Legal Counsel to Pfsweb, Inc. in Connection With Its Sale By Merger To GXO Logistics, Inc. appeared first on Attorney at Law Magazine.