UPS sells Coyote Logistics for over $1 billion to RXO

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United Parcel Service (UPS) has sold its truckload brokerage business Coyote Logistics to RXO, Inc. (RXO) for $1.025 billion. In a press release, UPS CEO Carol B. Tomé discusses UPS's focus in the sale by claiming "UPS positions itself to become the premium small package provider and logistics partner in the world."

Yahoo Finance's Jared Blikre and Madison Mills break down the latest development for UPS and what it means for the freight delivery company.

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This post was written by Nicholas Jacobino