C.H. Robinson Worldwide, Inc. announced on October 5, 2026, that it has entered into a definitive agreement to acquire RXO, Inc. Under the terms of the merger agreement, RXO stockholders will receive a combination of cash and C.H. Robinson common stock for each share they own. The standard consideration consists of $17.25 in cash and 0.0856 shares of C.H. Robinson common stock for each RXO share. This represents an implied total consideration of $30.25 per share. RXO shareholders may also elect to receive all-cash consideration of $30.25 per share or all-stock consideration of 0.1992 shares of C.H. Robinson common stock. The transaction is expected to be accretive to adjusted earnings per share (EPS) within nine months of closing and mid-teens accretive to adjusted EPS in 2028.
The combined company is expected to generate approximately $300 million of net run-rate cost synergies within two years following the close of the transaction. These synergies are expected to be achieved through the application of C.H. Robinson’s Lean AI operating model to RXO’s business, driving productivity improvements and operating margin expansion. The transaction is expected to close in the first half of 2027 and is subject to customary closing conditions, including regulatory approval and approval by RXO’s stockholders. Upon completion, RXO will be delisted from the New York Stock Exchange, and C.H. Robinson will integrate RXO primarily into its NAST division.
Both boards of directors have unanimously approved the merger agreement. The transaction represents a premium of 27% to RXO’s 90-day volume-weighted average price and 29% to RXO’s closing price on October 2, 2026. C.H. Robinson will finance the cash consideration with new debt financing, having entered into a fully underwritten commitment for a bridge facility with Morgan Stanley Senior Funding, Inc. Upon completion, RXO stockholders are expected to own approximately 11% of the combined company.
