Investing.com -- French shipping giant CMA CGM has agreed to acquire FedEx's third-party logistics business for an enterprise value of $1.4 billion in cash, the company confirmed Wednesday, July 1, stripping FedEx of its largest warehousing and contract logistics operation in a deal that extends a sweeping restructuring of the U.S. package delivery giant.

FedEx Corporation (NYSE: FDX) is trading at $311.24, down 0.61% on the session, with an intraday low of $310.69, extending a pre-market drop that followed news of the divestiture overnight. The stock sits well below its 52-week high of $404.03, reflecting investor uncertainty around a company in the midst of its most significant portfolio transformation in years.

The unit being sold, FedEx Supply Chain, is no small operation. It runs more than 130 distribution centres covering over 40 million square feet of managed space, with two-day fulfillment reach to 96% of the U.S. population. Its services span warehousing, reverse logistics, transportation management, customs brokerage and contract manufacturing, capabilities that will now sit inside one of the world's largest container shipping groups.

For CMA CGM, the acquisition accelerates CEO Rodolphe Saadé's drive to transform the privately held French carrier from a pure-play ocean shipping company into a diversified logistics group. Saadé pledged a $20 billion investment in the United States over four years during an Oval Office meeting with President Trump, and this deal represents a significant down payment on that commitment. CMA CGM already owns Ceva Logistics, and industry publication The Loadstar reported on June 30 that the group was actively seeking a sizable North American logistics acquisition to rebuild Ceva following integration difficulties after the Bolloré Logistics merger.

Alongside the acquisition, the Financial Times reported, citing people familiar with the matter, that the two companies are expected to announce freight-forwarding partnerships that would pair FedEx's air cargo network with CMA CGM's container shipping scale, though the details had not been finalized at the time of reporting.

For FedEx, the divestiture is the second major asset sale within weeks. The company completed the spin-off of its less-than-truckload freight division as FedEx Freight Holding (NYSE: FDXF) last month, which now trades independently at $150.20, down 0.53% on Wednesday. Together, the two transactions leave FedEx concentrated almost entirely on its core express and ground parcel network, the strategic direction management has telegraphed for several quarters.

The symmetry of the Supply Chain price tag carries a historical footnote: FedEx originally built the unit around its $1.4 billion acquisition of Genco Distribution System, completed in January 2015, making this effectively an exit at the same enterprise value more than a decade later. Whether FedEx realizes a gain or loss on the transaction depends on investments and write-downs accumulated since then, and the company has not disclosed how it intends to deploy the proceeds, whether through share buybacks, debt reduction, or reinvestment in its core network.

The regulatory approval process and expected closing timeline were not detailed in CMA CGM's statement, nor were any workforce implications for FedEx Supply Chain's employees across its 130-plus facilities.

The next major opportunity to assess the financial impact will come on October 29, when FedEx reports its first-quarter fiscal 2027 results, the first quarterly print since both the Freight spin-off and this Supply Chain sale. Analysts will be scrutinizing the revenue mix shift, margin trajectory, and any guidance revision that reflects a leaner, more focused FedEx. Consensus currently stands at a $4.15 earnings-per-share estimate for the quarter, though seven downward revisions have been recorded over the past 90 days, suggesting the market is still calibrating what the stripped-down FedEx looks like at the earnings line.