UPS sells Coyote Logistics to RXO for $1bn in cash

UPS announced today it has agreed to sell its Coyote Logistics truckload brokerage unit to RXO for $1.025bn.

“As UPS positions itself to become the premium small package provider and logistics partner in the world, the decision to sell our Coyote Logistics business allows an even greater focus on our core business,” said UPS CEO Carol Tomé in prepared remarks.

The acquisition, RXO said, will enhance its “market position, diversify and expand its customer base, and broaden its carrier network. At closing, ...