United Parcel Service (UPS) has announced its decision to sell its Coyote Logistics division to RXO for just over $1 billion. This move comes as UPS aims to refocus on its core package-delivery business. The sale, expected to be finalized by the end of the year pending regulatory approval, will prompt UPS to update its financial outlook post-completion.
UPS CEO Carol Tome emphasized that divesting Coyote Logistics will enable the company to concentrate more on its primary operations. Coyote Logistics, a freight-brokerage company, acts as an intermediary between shippers and carriers like UPS.
