An announcement from RXO, Inc. (RXO) is now available.
RXO, Inc. has entered into a Purchase Agreement with United Parcel Service and its affiliates to acquire their tech-driven freight brokerage and associated UK services for $1.025 billion, with the deal contingent on customary conditions and regulatory approval. To finance this acquisition, RXO secured $550 million in equity from MFN Partners and Orbis Investment Management and a $1.1 billion debt commitment from Goldman Sachs. The agreement also includes non-compete clauses, indemnification provisions, and the potential termination if not closed by December 31, 2024.
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