C.H. Robinson to Acquire RXO for $5.8 Billion in Largest Truck Brokerage Deal

C.H. Robinson (NASDAQ: CHRW) announced on October 5, 2026, it will acquire RXO (NYSE: RXO) in a deal valued at approximately $5.8 billion in enterprise value, combining the No. 1 and No. 3 truck brokerages in the U.S. in the largest such merger in history. RXO shareholders will receive $17.25 per share in cash plus roughly 0.0909 CHRW shares per RXO share, or may elect an all-cash option of $30.25 per share. The $30.25 cash option represents a substantial premium to RXO's recent trading range; RXO shares had fallen below $11 in November 2025 after ten consecutive quarters of net losses. The deal targets $300 million in run-rate cost synergies within two years, spanning technology, real estate and overhead. At C.H. Robinson's trailing P/E of 26, that implies roughly $7.8 billion in value, exceeding the purchase price. C.H. Robinson's investment-grade credit rating, approximately two notches above the cutoff at Moody's and S&P, is expected to be maintained post-merger, ratings agencies indicated.