Source: ABC 11 News
“United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more on its core package-delivery business. UPS said it expects to close the sale by the year if regulators allow the deal. Atlanta-based UPS said it will update its financial outlook once the sale is completed. … Freight brokers serve as middlemen between shippers and carriers such as UPS. RXO, a freight broker based in Charlotte, North Carolina, said acquiring Coyote will nearly double the company, to $7.1 billion in annual revenue, and make it the third-biggest freight broker in North America.” (06/23/24)
https://abc11.com/post/ups-agrees-sell-freight-brokerage-division-less-paid/14993512/