TransForce Completes Acquisition of Dynamex
Canadian trucking firm TransForce Inc. has completed its acquisition of logistics and delivery firm Dynamex Inc., Dynamex said Wednesday.
Dynamex shareholders are entitled to $25 per share for the transaction, the company said in a statement.
鈥淚ncorporating Dynamex鈥檚 services will open doors for TransForce in the U.S. market,鈥 Alain B茅dard, CEO of TransForce, said in the statement. 鈥淲e are confident that the combination of TransForce and Dynamex will yield attractive synergies with our existing divisions and will create value for our shareholders.鈥
鈥淭he completion of our deal with TransForce marks an important milestone for Dynamex,鈥 said James Welch, CEO of Dynamex.
TransForce鈥檚 offer of $25 per share beat out an acqusition offer from Greenbriar Equity Group. Greenbriar had offered $21.25 per share last year, and then increased the offer to $24 per share.
TransForce is ranked No. 15 and Dynamex is ranked No. 61 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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