US stocks move | RXO Inc (RXO.US) surges 24% as it will be acquired by Robinson Logistics for about $5.8 billion
On Monday, truck freight broker RXO Inc (RXO.US) opened significantly higher, surging approximately 24% as of press time, with an increase of over 40% in October.
Zhitong Finance APP reported that on Monday, truck brokerage company RXO Inc (RXO.US) opened sharply higher, with gains of about 24% at the time of writing and an increase of over 40% in October. According to reports, C.H. Robinson (CHRW.US) has agreed to acquire RXO Inc for approximately $5.8 billion, aiming to strengthen the logistics business of the merged company. According to statements from both companies, RXO shareholders will receive $17.25 in cash and 0.0856 shares of C.H. Robinson stock per RXO share, equating to a total consideration of about $30.25 per share, which represents a 29% premium over RXO's closing price last Friday.
The deal is expected to be completed in the first half of 2027. C.H. Robinson expects to achieve business diversification through this acquisition and fully leverage RXO's advantages in rapid delivery and last-mile logistics. The buyer plans to use artificial intelligence to improve operations and achieve $300 million in cost savings within two years.
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