C.H. Robinson Buys RXO for $5.8 Billion — SkimNews
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- C.H. Robinson is buying RXO for about $5.8 billion in a freight-brokerage deal that chicagobusiness.com says will ripple through Chicago.
- RXO stock soared on the buyout announcement, while C.H. Robinson — the buyer — was the S&P 500's worst performer the same day, and told Axios it is open to more M&A with the line "never say never."
Why it matters: C.H. Robinson, the S&P 500's worst performer on the day it announced the $5.8 billion RXO buyout, is signaling appetite for more deals — a sharp contrast between management's M&A stance and the market's reaction to the acquirer.
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