When Full, Transaction Helps Drive UPS’s Higher and Bolder Technique
ATLANTA–(BUSINESS WIRE)–UPS (NYSE: UPS) introduced at this time it has entered into an settlement to promote its Coyote Logistics enterprise unit to RXO, Inc., for $1.025 billion.
As UPS positions itself to develop into the premium small bundle supplier and logistics accomplice on the earth, the choice to promote our Coyote Logistics enterprise permits a fair higher give attention to our core enterprise, mentioned UPS Chief Govt Officer Carol B. Tomé.
Based mostly in Chicago, Coyote Logistics is a number one international third-party logistics (3PL) supplier, working with 100,000 community carriers and managing 10,000 hundreds per day.
The transaction is predicted to shut by the top of the yr, topic to regulatory evaluate and approval. Upon completion of the transaction, the corporate will replace its monetary outlook.
J.P. Morgan Securities LLC is serving because the unique monetary advisor to UPS, and King & Spalding is serving because the authorized advisor to UPS.
About UPS
UPS (NYSE: UPS) is likely one of the world’s largest corporations, with 2023 income of $91.0 billion, and supplies a broad vary of built-in logistics options for patrons in additional than 200 international locations and territories. Targeted on its goal assertion, Shifting our world ahead by delivering what issues, the corporate’s roughly 500,000 staff embrace a method that’s merely said and powerfully executed: Buyer First. Folks Led. Innovation Pushed. UPS is dedicated to decreasing its affect on the surroundings and supporting the communities we serve world wide. UPS additionally takes an unwavering stance in assist of range, fairness and inclusion. Extra info will be discovered at http://www.ups.com, about.ups.com and buyers.ups.com.
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