Updated:
12/15/2010 2:00:00 PM
Canadian trucking firm TransForce Inc. will buy logistics and delivery firm Dynamex Inc. for $248 million, Bloomberg reported.
TransForce will acquire the company for $25 per share, 4.2% more than Greenbriar Equity Group had agreed to pay last month.
Greenbriar had originally offered $21.25 per share in October, and then increased the offer to $24 per share after another offer had come forward.
The Greenbriar agreement came with a $7.73 million termination fee, Bloomberg said Tuesday.
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.
© 2010, Transport Topics Publishing Group. All rights reserved.
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