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By Colin Kellaher
PFSweb shares surged in early trading Thursday after the e-commerce order-fulfillment platform agreed to be acquired by contract logistics provider GXO Logistics at a rich premium.
GXO on Thursday said it would pay about $181 million, or $7.50 a share, in cash for PFSweb, some 50% above Wednesday’s closing price of $5.01.
Shares of PFSweb were recently changing hands at $7.42, up 48%.
The takeover price is nearly double PFSweb’s 52-week low of $3.80 in mid-May, but it is also 34% below the stock’s 52-week high of $11.45, reached last November.
Write to Colin Kellaher at colin.kellaher@wsj.com
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