India, Oct. 5 -- RXO, Inc. (RXO) is up 20.53 percent, gaining $4.80 to $28.18 on Monday. The move comes after C.H. Robinson Worldwide and RXO announced a definitive agreement under which C.H. Robinson will acquire RXO in a stock-and-cash transaction with an implied value of $5.8 billion, creating a combined company with an enterprise value of more than $25 billion.
RXO is currently trading at $28.18, up from the previous close of $23.38 after opening at $29.00 on the New York Stock Exchange. The stock has traded between $28.42 and $29.11 during the session, with trading volume at 4.96 million shares versus average volume of 1.81 million.
The combination is expected to bring together the companies' trucking brokerage and managed transporta...