RXO Inc. Acquires UPS’s Coyote Logistics for Over $1 Billion

RXO Inc. acquires United Parcel Service Inc.’s Coyote Logistics for over $1 billion, becoming the third-largest provider of brokered transportation services in North America. The acquisition will be financed through a combination of equity and debt, with significant investments from MFN Partners and Orbis Investments. CEO Drew Wilkerson is optimistic about the potential synergies and customer base expansion. Annual cost synergies of $25 million are expected, with Goldman Sachs Group Inc. advising on the deal.