UPS agrees to sell its freight-brokerage division for less than it paid for the business in 2015

United Parcel Service said Sunday it agreed to sell its Coyote Logistics division to RXO for just over $1 billion — less than it paid for the freight-brokerage company in 2015 — to focus more on its core package-delivery business. UPS said it expects to close the sale by the year if regulators allow the deal.