C.H. Robinson Worldwide said on Monday it has agreed to acquire RXO in a stock-and-cash transaction with an implied value of $5.8 billion. The deal will create a combined company with an enterprise value of over $25 billion.

RXO shareholders will receive $17.25 in cash and 0.0856 C.H. Robinson shares for each RXO share. This values RXO at $30.25 a share, a 29 per cent premium to its October 2 closing price.

The deal brings together two major North American truck brokers. It combines C.H. Robinson’s global forwarding and managed transportation with RXO’s strengths in expedited freight and last-mile delivery.

C.H. Robinson expects about $300 million in net run-rate cost savings within two years of closing. It plans to run RXO on its ‘Lean AI’ operating model to improve productivity.

The deal is expected to close in the first half of 2027, pending regulatory approval and an RXO shareholder vote. Both boards have approved the agreement unanimously.