M&A
confidence high
sentiment positive
materiality 0.95
C.H. Robinson to acquire RXO in cash-and-stock deal; RXO holders can elect $30.25 cash or 0.1992 CHRW shares per share
RXO, Inc.
- RXO agreed on Oct. 4, 2026 to merge into C.H. Robinson subsidiaries; deal expected to close in first half of 2027, with RXO delisted from NYSE and deregistered.
- Per-share merger consideration options: $17.25 cash plus 0.0856 CHRW share (Standard), $30.25 cash, or 0.1992 CHRW share; no-election shares get Standard, subject to proration.
- C.H. Robinson signed a debt commitment letter with Morgan Stanley for a 364-day senior unsecured bridge term loan of up to $4.5B to fund cash consideration and refinance RXO debt.
- RXO would pay C.H. Robinson a $175M termination fee under specified circumstances; a stockholder holding about 17.04% of RXO shares agreed to vote for the deal.
- Closing conditions include RXO stockholder approval, HSR antitrust clearance, Form S-4 effectiveness and NASDAQ listing; outside date July 4, 2027, extendable twice by three months.