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January 31, 2001 11:42 AM, EST

Three of the nation’s major package couriers behind United Parcel Service () and FedEx Corp. () have instituted major changes of ownership, stock exchange listing and corporate organization.

CD&L () said Jan. 18 it signed a letter of intent to be acquired by Detroit-based Noble International (), a supplier of automotive parts that is moving into transportation.

Neither party would reveal the price, but a joint statement said the companies hope to finish a definitive agreement by early February that would have to be approved by CD&L shareholders. Both companies are publicly traded and must eventually file documents with the Securities and Exchange Commission.

Based in South Hackensack, N.J., and formerly known as Consolidated Delivery and Logistics, CD&L is a same-day ground and air delivery and logistics business with 78 offices in 24 states and Washington, D.C. For the first nine months of 2000, it lost $866,000 on revenue of $177.5 million. It has not yet published year-end figures.

For the full story, see the Jan. 29 print edition of Transport Topics. .