C.H. Robinson To Pay $635M For Logistics Rival Phoenix

Law360, New York (September 25, 2012, 12:44 PM EDT) -- Freight transporter C.H. Robinson Worldwide Inc. will fork over $635 million in cash and stock for Chicago rival Phoenix International Inc., the pair said Tuesday, a deal aimed at building up the buyer's international business.

Under the deal’s terms, Minneapolis-based C.H. Robinson will pay $571.5 million in cash and cover the remaining purchase price in newly issued stock. The freighter said it would finance its buy through a mix of on-hand cash and new debt, but did not name its lenders. Subject to regulatory approval, the...
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