Trucking Stock RXO Shoots Up 25% On $5.8 Billion Merger Offer For Rival

Trucking stock RXO shot up on Monday morning after news of its $5.8 billion offer for C.H. Robinson Worldwide. After news of the proposed merger broke, RXO (RXO) soared close to 25%, while C.H. Robinson (CHRW) sank about 10%, according to MarketSurge. The stock-and-cash deal combines the logistics brokerages that make their nut connecting shippers with trucking companies. C.H. Robinson…