RXO Agrees to Buy UPS Unit Coyote Logistics for $1 Billion.

RXO Inc. has agreed to purchase Coyote Logistics, the asset-light freight brokerage business of United Parcel Service Inc., for over $1 billion. This acquisition will make RXO the third-largest provider of brokered transportation in North America. The deal will be funded through a combination of equity and debt, including investments from RXO's largest shareholders. RXO expects to benefit from synergies and diversification of its customer base through this acquisition. The agreement also includes a deal for RXO to provide brokered-transportation services to UPS until January 2030. [Extracted from the article]

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