Monday April 21, 2014

C.H. Robinson buying private firm for $635m

C.H. Robinson Worldwide will acquire Phoenix International in a deal valued at $635 million.

MarketWatch is reporting that C.H. Robinson Worldwide has agreed to acquire privately-held freight handling company Phoenix International in a deal valued at $635 million. According to the publication, “the purchase price includes $571.5 million in cash and about $63.5 million in newly-issued C.H. Robinson stock.” The deal is expected to close by the end of this year and add to first-quarter earnings.

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