Home Depot eyeing bid for XPO Logistics, says report

Home Depot has recently considered making a bid for logistics giant XPO Logisitcs for $9bn, at least in part to keep it out of the hands of Amazon, according to a report.

Citing a source close to Home Depot, website Recode said that internal discussions had taken place about the potential acquisition of XPO, which is one of the world's ten largest providers of transportation and logistics services.

The report said that part of the reason for the bid would be to keep the organisation out of the clutches of Amazon. It added that both Home Depot and Amazon have previously been XPO customers.

Recode said it had not been able to independently confirm the interest and that all three companies had declined to comment.

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XPO has itself made a number of acquisitions since it was established in 2011 and last year revealed that it had set aside $8bn for further investment deals.

In addition, it was named the top performing US company on the Forbes 2017 Global 2000.

In September last year, it unveiled plans to nearly double its current last mile footprint to 85 service hubs by late 2018.