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UPS agrees to sell its Chicago-based freight-brokerage division for $1B

Posted on AllSides June 24th, 2024
From The Left

ATLANTA — United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the Chicago-based freight-brokerage company in 2015 — to focus more on its core package-delivery business. UPS said it expects to close the sale by the year if regulators allow the deal. Atlanta-based UPS said it will update its financial outlook once the sale is completed. UPS CEO Carol Tome said “the decision to sell our Coyote Logistics business allows an even greater...

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