RXO Surges After Buying Coyote Logistics Unit From UPS for More Than $1 Billion
RXORXO(RXO) Investopedia·2024-06-24 23:26

Key TakeawaysRXO shares soared in intraday trading Monday, a day after the package delivery firm agreed to buy UPS's freight brokerage unit, Coyote Logistics, for $1.025 billion.RXO said the acquisition would created the third-largest brokered transportation provider in North America, and be immediately accreditive to its adjusted EPS and adjusted free cash flow.UPS explained that the deal would help the company focus more on its core business. RXO (RXO) shares soared in intraday trading Monday, a day after ...