C.H. Robinson agrees to acquire RXO in $5.8B cash-and-stock deal

C.H. Robinson agreed on October 4, 2026, to acquire RXO for an implied $5.8 billion in cash and stock, creating a company with enterprise value over $25 billion. Standard terms pay $17.25 cash plus 0.0856 C.H. Robinson shares per RXO share, a 29% premium; an all-cash or all-stock election is prorated toward about 57% cash and 43% stock. RXO holders would own about 11% afterward. CEO Dave Bozeman called the deal "a natural next step in our transformation" toward a more scaled North American third-party logistics provider. RXO CEO Drew Wilkerson termed it "an exciting next chapter," and Orbis's Adam R. Karr said the largest shareholder fully supports it. C.H. Robinson expects roughly $300 million in net run-rate cost synergies within two years using its Lean AI model, backed by up to $4.5 billion in bridge financing with no financing condition. RXO may pay a $175 million termination fee in specified cases; MFN Partners agreed to vote about 17.04% of shares yes. Closing is expected in the first half of 2027 pending RXO stockholder approval and antitrust clearances. Premarket, RXO shares rose while C.H. Robinson shares fell.