RXO shares soared in intraday trading Monday, a day after the package delivery firm agreed to buy UPS's freight brokerage unit, Coyote Logistics, for $1.025 billion. RXO said the acquisition would ...

Interestingly, the deal price was also lower than what UPS doled out for Coyote in 2015. Coyote provides RXO ( RXO ) with immediate access to 15,000 customers and 97,000 carriers.

Upon completion of the transaction, RXO will continue to provide UPS transportation services under a contract that runs until January 2030. Coyote Logistics was acquired by UPS in 2015 and is the ...