Home Depot Inc. has considered making a bid for logistics company XPO Logistics Inc., a publicly traded company with a market cap of more than $9 billion, Recode reported Dec. 22.
The home improvement chain has held internal discussions about the potential acquisition, according to the report which cites an unnamed source. Home Depot declined to comment on the report.
Home Depot wants to prevent Amazon.com Inc. from buying the logistics company, according to the report.
Recode reported that both companies are customers of the logistics company. XPO offers last-mile logistics and freight transportation services, and is well known for transporting heavy items including furniture and appliances.
XPO's shares rose 14.3% to close at $11.28 on Dec. 22.