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Issue #591

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Terminal Operators

Air Cargo Quarterly

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2014 Media Kit

TransForce receives Competition Act approval for arrangement with Vitran

By: | at 06:58 PM | Intermodal  

Vitran Corporation Inc., a premier Canadian less-than-truckload transportation firm, has announced that Competition Act approval of TransForce Inc.‘s acquisition of Vitran under the previously announced plan of arrangement (the “Arrangement”) was obtained. Under the Arrangement, 2400520 Ontario Inc. (the “Purchaser”), an indirect wholly-owned subsidiary of TransForce Inc., will acquire all of the issued anoutstanding common shares of the Company, other than common shares of the Company held by the Purchaser and any affiliate of the Purchaser, for consideration of US$6.50 in cash per share.

Subject to the satisfaction or waiver of the remaining customary conditions to closing, Vitran intends to complete the Arrangement on or about March 26, 2014.