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Freight broker C.H. Robinson Worldwide is acquiring rival RXO in a stock-and-cash transaction valued at $5.8 billion. The deal is expected to expand C.H. Robinson's expedited and last-mile delivery services.
Freight forwarding firm C.H. Robinson Worldwide said on Monday it would acquire smaller rival transportation broker RXO for $5.8 billion, its biggest deal yet, to expand its North American truck-brokerage footprint and strengthen last-mile delivery.
KKR has agreed to acquire private-capital fund administrator Gen II in a transaction valuing the business at roughly $5 billion including debt.
The index rose 1.05% to 27,477.31 after weaker-than-expected US jobs data boosted bets against an October Fed rate hike. PTC jumped 33% on Schneider Electric's $22.6 billion all-cash bid, while RXO rose over 22% on a $5.8 billion deal with C.H. Robinson.
The Nasdaq Composite reached a record high close on Monday, boosted by Nvidia and Microsoft. Investors focused on falling oil prices and anticipated a lighter chance of a Federal Reserve rate hike this month following weaker-than-expected jobs data.
(Updates: C.H. Robinson Worldwide, Cenovus Energy; Adds: Sainsbury, Shelly Group) Oct 5 (Reuters) — The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: * Medical device maker GE HealthCare said it would buy privately held Sofie Biosciences for $945 million in cash, in a move tha