UPS Announced Agreement Sunday. To Sell Its Coyote Logistics Business Unit To RXO For $1.025B
Portfolio Pulse from Benzinga Newsdesk
UPS (NYSE:UPS) has announced an agreement to sell its Coyote Logistics business unit to RXO, Inc. for $1.025 billion.
June 23, 2024 | 6:33 pm
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UPS is selling its Coyote Logistics business unit to RXO, Inc. for $1.025 billion. This divestiture could streamline UPS's operations and provide a significant cash influx.
The sale of Coyote Logistics for $1.025 billion will provide UPS with a substantial cash influx, which could be used to pay down debt, invest in core operations, or return value to shareholders. This move is likely to be viewed positively by investors as it streamlines UPS's business and focuses on its core competencies.
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