Hon Hai’s quarterly revenue reaches 3.03 trillion New Taiwan dollars, up 47% year-on-year and exceeds expectations

Reuters, October 5 – Freight forwarding company C.H. Robinson Worldwide (CHRW.O) announced on Monday that it will acquire RXO (RXO.N) in a stock-and-cash deal valued at $5.8 billions, aiming to strengthen its position in the North American truck brokerage sector. The merged logistics giant, which will have a combined market capitalization of $25 billions, will primarily integrate the technology-driven truck brokerage firm into C.H. Robinson's North American surface transportation business, a division that accounts for over two-thirds of its revenue. RXO also offers transportation management and last-mile delivery services. Its shares surged about 20% in premarket trading, while C.H. Robinson’s stock dropped nearly 12%. RXO shareholders will receive $17.25 in cash and 0.0856 shares of C.H. Robinson stock for each RXO share, valuing RXO at $30.25 per share, a 29% premium to its closing price last Friday. This transaction will expand C.H. Robinson’s “last mile” delivery coverage in the U.S. and help it win more large enterprise clients, solidifying its position in a highly competitive truck brokerage market. C.H. Robinson CEO Dave Bozeman said the deal will allow the company to “create a larger, more resilient North American third-party logistics provider.” After the transaction is completed, C.H. Robinson expects to achieve $300 millions in net operating cost synergies within two years and expects the deal to boost adjusted earnings per share within nine months. The deal is expected to close in the first half of 2027, at which point RXO shareholders will own 11% of the combined company. Morgan Stanley & Co. LLC is acting as financial advisor for C.H. Robinson, while Goldman Sachs & Co. LLC is advising RXO. RXO shares have outperformed the broader S&P 500 benchmark over the past year. (For the convenience of non-English speakers, Reuters offers its reports in several automated translations. Automated translations may be inaccurate or lack important context; Reuters does not guarantee their accuracy and makes them available solely for reader convenience. Reuters accepts no liability for any damage or loss arising from the use of automated translations.)

Critical Metals' US stock surged by 12% after the company received approval from Greenland for its mining and closure plans for the Tanbreez project.

Kuwait Petroleum Corporation (KPC) CEO: Kuwait's current oil production is about 75% of pre-war levels.

(1) Brazilian assets surged as investors quickly bet on a possible government change. (2) Previously, Senator Flávio Bolsonaro outperformed polling expectations in the first round of the presidential election, leading current President Lula in votes and appearing poised to win the second round scheduled for October 25. (3) After the opening in São Paulo, the Brazilian real jumped as much as 3%, outperforming all other currencies. In pre-market trading in New York, the US-listed iShares MSCI Brazil ETF rose 15%. (4) Bolsonaro, seen as more market-friendly than the leftist Lula, received 47% of the votes, while Lula got 45%. Previously, investors widely expected Lula to lead in the first round and believed a tie would already be the best result for Bolsonaro. (5) JPMorgan stated in a report that this campaign now appears to have become a case of Bolsonaro “leading and just needing to hold on”. (6) Antonina Tarassiouk, head of international economic analysis at Reams Asset Management, which manages $3.4 billions in assets, said: “This is a welcome surprise. Previously, there was a clear asymmetry in the results: either Lula would maintain the status quo, or the more market-friendly, fiscally disciplined Bolsonaro would win. Now, this gives investors a signal to further expand long positions.”