AI Image
UPDATE: C.H. Robinson acquisition of RXO may give a jolt to industry consolidation
FreightWaves • • business
Key Points:
- RXO shareholders will receive $17.25 in cash plus 0.0856 shares of C.H. Robinson for each RXO share, valuing RXO shares at $30.25 based on C.H. Robinson's closing price of $157.72.
- After the deal announcement, C.H. Robinson's shares dropped nearly 5% in pre-market trading to $150, while RXO's shares surged nearly 22% to $28.49.
- C.H. Robinson stated the acquisition will combine complementary networks and expand its multi-modal platform, enhancing growth and customer offerings across trucking brokerage, managed transportation, global forwarding, expedited, and last mile services.
- The deal aims to create a more comprehensive logistics network by leveraging the strengths of both companies across various transportation modes and segments.
- This is an ongoing story with further developments expected.
