|This Slide: #78 of 82|
Slide #78. C.H. Robinson Worldwide, Inc. — Phoenix International, Inc.
C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW)
Phoenix International, Inc.
C.H. Robinson Worldwide, Inc. announced that it has reached a stock purchase agreement to acquire Phoenix International, Inc. ("Phoenix") for $571.5 million in cash and approximately $63.5 million in newly-issued C.H. Robinson stock. The agreement is subject to certain customary closing conditions, including regulatory approval. Closing of the acquisition is expected to occur in the fourth quarter of 2012. C.H. Robinson will use existing cash and plans to enter into a revolving credit facility with major banks to finance the cash portion of the purchase price. The acquisition is expected to be modestly accretive in the first year.
Robinson (C.H.) Worldwide is a third party logistics company. Co. provides freight transportation services and logistics solutions to companies. Co.'s segments are: North American Surface Transportation, which provides freight transportation services across North America through a network of offices; and Global Forwarding, which provides global logistics services through an international network of offices and also contracts with independent agents; and All Other and Corporate, which includes Robinson Fresh® that provides sourcing services including the buying, selling, and marketing of fresh fruits, vegetables, and other perishable items, and managed services that provides Managed TMS®.
C.H. Robinson Worldwide SEC Filing Email Alerts Service
Open the CHRW Page at The Online Investor »
Hold (2.26 out of 4)