BREAKING: C.H. Robinson acquiring RXO
In a move that may have been foreshadowed by strong upward stock movement Thursday and Friday, C.H. Robinson, the country’s biggest 3PL, is getting a lot bigger by acquiring RXO. The transaction was announced Monday morning. RXO’s (NYSE: RXO) stock price had risen sharply Thursday and Friday, with it rising Friday by $2.02, a gain […] The post BREAKING: C.H. Robinson acquiring RXO appeared first…
C.H. Robinson, the largest 3PL in the United States, is expanding its operations by acquiring RXO, a rival logistics company. The deal was announced on Monday morning, coming after RXO's stock price experienced a significant surge on Thursday and Friday. RXO's shares rose by $2.02, a 9.46% increase, bringing the price to $23.38, after jumping 16.2% in just two days. Today's trading volume was 3.67 million shares, much higher than its usual 1.9 million shares.
Under the terms of the agreement, RXO shareholders will receive $17.25 in cash and 0.856 shares of C.H. Robinson for each RXO share they own. Based on C.H. Robinson's closing price of $157.72 on Friday, each RXO share is valued at $30.25. Shortly after the announcement, at around 7:20 a.m., C.H. Robinson's shares experienced a 4.89% decrease in pre-market trading, falling to $150 from $157.72. In contrast, RXO's share price increased by 21.86%, moving up to $28.49, a rise of $5.11.
The combined forces of C.H. Robinson and RXO will create a more comprehensive offering for customers, expanding their multi-modal platform and strengthening their presence across all transportation modes and segments.
Written by urgent.news from FreightWaves's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
