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C.H. Robinson Worldwide (CHRW) Stock Gains on APC Logistics Acquisition

NEW YORK (TheStreet) -- Shares of C.H. Robinson Worldwide (CHRW) were advancing on heavy trading volume mid-Thursday afternoon after the Eden Prairie, MN-based logistics company announced it would purchase freight forwarding and brokerage services provider APC Logistics for about $225 million in cash.

C.H. Robinson will finance the acquisition through cash and funds drawn from the company's revolving credit facility, according to a statement released late yesterday.

The two companies already have an exclusive agent relationship for...