C.H. Robinson agrees to buy RXO for about $5.8 billion in cash and stock

C.H. Robinson announced on October 5, 2026 that it will acquire RXO in a cash-and-stock deal with an implied value of $5.8 billion. The standard election is $17.25 in cash plus 0.0856 C.H. Robinson shares per RXO share. Holders can instead elect all cash, at $30.25 per share, or all stock, at 0.1992 shares, with both subject to proration. The overall mix is about 57% cash and 43% stock.

The $30.25 figure is based on C.H. Robinson's 16-day average share price of $151.88 as of October 2, 2026, so the stock part of the value moves with C.H. Robinson's share price. The release says the price is a 27% premium to RXO's 90-day average price and 29% to its October 2 close. RXO holders would own about 11% of the combined company.

C.H. Robinson expects about $300 million of net run-rate cost synergies within two years after closing. It will fund the cash with new debt, backed by a fully underwritten bridge facility from Morgan Stanley Senior Funding. Both boards approved the agreement unanimously, and MFN Partners, which holds about 17% of RXO, agreed to vote in favor. Closing is expected in the first half of 2027, subject to regulatory approval and RXO stockholder approval. RXO will be integrated mainly into C.H. Robinson's North American surface transportation division.