CLARIFICATION: C.H. Robinson to acquire Phoenix International

   Tuesday’s AS Daily news report about C.H. Robinson (“C.H. Robinson to acquire Phoenix International“) incorrectly described how the deal is being financed. The story included the purchase price of $635 million and that 90 percent of that amount, or $571.5 million, would be paid for in cash. Omitted was the fact that Phoenix investors would receive 10 percent of the transaction price, or $63.5 million, in newly issued C.H. Robinson stock. Robinson plans to open a revolving line of credit to help pay for the cash portion of the deal.