Reported 8 months ago
Coyote Logistics, founded in 2006 by Jeff Silver, has had an interesting journey from a small startup to a top freight brokerage in the U.S. Acquired by UPS for $1.8 billion in 2015, Coyote is now being sold to RXO for $1.025 billion. With UPS focusing on small package freight, RXO's acquisition of Coyote at a 'reasonable price' has been well received by Wall Street, making RXO the third-largest brokerage in the U.S. The combined company will have a more diversified book of business extending from food and beverage to retail and industrial/manufacturing. RXO has been a standout performer in profitability, and this move solidifies its position as a top player in the industry.
Source: YAHOO