C.H. Robinson Worldwide has agreed to buy truck broker RXO for around $5 billion in cash and stock in a deal that would create a logistics company with an enterprise value topping $25 billion.
C.H. Robinson on Monday said the deal values RXO at $30.25 a share, a 29% premium to Friday's closing price of $23.38 for the Charlotte, N.C., company.
Shares of RXO were recently up 22% to $28.50 in premarket trading.
C.H. Robinson, based in Eden Prairie, Minn., said it would pay $17.25 in cash and issue 0.0856 shares for each share of RXO, with the total deal consideration consisting of about 57% cash and 43% stock.
RXO shareholders would own 11% of the combined company upon completing of the deal, slated for the first half of 2027.