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Uber's stock drops after $2.25 billion cash-and-stock deal to buy Transplace from TPG

·1 min read
Uber's stock drops after $2.25 billion cash-and-stock deal to buy Transplace from TPG

Uber Technologies Inc. subsidiary Uber Freight announced Thursday a deal to buy logistics technology company Transplace for about $2.25 billion in cash and stock from TPG Capital. Under terms of the deal, the purchase price includes $750 million worth of Uber stock and the rest in cash. Uber's stock slipped 0.6% in premarket trading. "This is a significant step forward, not just for Uber Freight but for the entire logistics ecosystem," said Lior Ron, head of Uber Freight. "This is an opportunity