C.H. Robinson to acquire RXO in US$5.8B deal
Following completion, RXO will primarily be integrated into C.H. Robinson’s North American Surface Transportation division.
UNITED STATES – C.H. Robinson, a global logistics provider, has agreed to acquire RXO, a North American truck brokerage and last-mile delivery company, in a US$5.8 billion cash-and-stock deal that would create a combined enterprise valued at more than US$25 billion.
Both companies’ boards unanimously approved the agreement, with completion expected in the first half of 2027.
Financial terms
Under the merger agreement, RXO shareholders will receive US$17.25 in cash and 0.0856 C.H. Robinson shares for each RXO share, for a total consideration of US$30.25 per share. This represents a 29% premium on RXO’s closing price on 2 October 2026.
Approximately 57% of the total consideration will be paid in cash, with the remaining 43% in C.H. Robinson shares. RXO shareholders are expected to own 11% of the combined company upon completion.
MFN Partners LP, which holds approximately 17% of RXO’s shares, has agreed to vote in favour of the transaction. Orbis Investments, RXO’s largest shareholder, has also expressed support. C.H. Robinson plans to finance the cash component with new debt and has secured a fully underwritten bridge facility from Morgan Stanley Senior Funding.
Acquisition terms and operational integration
Following completion, RXO will primarily be integrated into C.H. Robinson’s North American Surface Transportation division.
“This transaction is a natural next step in our transformation, allowing us to create a more scaled, resilient North American third-party logistics provider positioned to offer exceptional customer service and redefine the future of our industry,” said C.H. Robinson President and CEO Dave Bozeman.
Drew Wilkerson, RXO Chairman and CEO, said: “Joining C.H. Robinson represents an exciting next chapter for our company, our employees and our customers. By bringing together our complementary capabilities, talented teams and shared commitment to service, we will be able to offer customers greater scale, broader capabilities and even more value.”
C.H. Robinson, founded in 1905, manages 37 million shipments annually, representing US$23 billion in freight under management and generating total revenues of US$16.2 billion in 2025. It employs approximately 12,000 people across more than 150 countries.
Meanwhile, RXO, headquartered in Charlotte, North Carolina, employs approximately 6,900 people and provides asset-light truck brokerage, managed transportation and last-mile delivery services throughout North America.
Finally, C.H. Robinson expects net run-rate cost savings of approximately US$300 million within two years of closing, driven by operating efficiencies, shared services, cost-to-serve measures and third-party spend.
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