September 18, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Con-way Inc (NYSE:CNW), was announced concerning whether the takeover of Con-way Inc by XPO Logistics, Inc for $447.60 per share is unfair to NYSE:CNW stockholders.

The investigation by a law firm concerns whether certain officers and directors of Con-way Inc breached their fiduciary duties owed to NYSE:CNW investors in connection with the proposed acquisition.

On September 9, 2015, XPO Logistics, Inc. (NYSE: XPO) and Con-way Inc
(NYSE:CNW) announced that they have entered into an agreement for XPO Logistics to acquire Con-way. Under the terms of the agreement, XPO Logistics, Inc will launch a tender offer for all of Con-way's outstanding shares at a cash price of $47.60 per share.

However, given that at least one analyst has set the high target price for NYSE:CNW shares at $59.00 per share and given that NYSE:CNW shares traded in September 2014 as high as $53.33 per share, the investigation concerns whether the offer is unfair to NYSE:CNW stockholders. More specifically, the investigation concerns whether the Con-way Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Con-way Inc reported that its annual Total Revenue rose from over $5.47 billion in 2013 to over $5.8 billion in 2014 and that its respective Net Income increased from $99.15 million to $137.04 million. Shares of Con-way Inc (NYSE:CNW) reached as high as $53.33 per share in September 2014.