Con-way Freight, the nationwide less-than-truckload carrier of Con-way Inc., announced it will implement a general rate increase averaging 4.9% for  noncontractual business, effective Oct. 19.

XPO Logistics said it has agreed to acquire Con-way Inc. for $3 billion to broaden its supply chain offerings into less-than-truckload and U.S. truckload freight and create a company with annual revenue of $15 billion.

Net income fell 18% at Con-way Inc. in the second quarter, pushed down by weaker results at its less-than-truckload and truckload businesses.

Con-way Inc. said a union representation election at a Con-way Freight facility in Oakland, California, was called off, marking the latest defeat of labor organizing efforts at the less-than-truckload carrier.

Con-way Truckload has been named Carrier of the Year for 2014 by Transplace, a leading provider of transportation management services and logistics solutions.

Con-way Inc. said Joseph Dagnese has been named president of Con-way Freight, its largest unit, to replace Greg Lehmkuhl, who resigned.

Employees at Con-way Freight’s Buffalo, New York, facility voted to reject representation by the Teamsters union, the company said.