Wheaton, Allied Battle For Global Van Lines
February 18, 2000
Two moving companies are in a bidding battle for bankrupt Global Van Lines of Orange, CA.
Allied Worldwide, Naperville, IL, has offered to buy the company for $1.65 million to $2.5 million, depending on how many of Global's independent agents agree to sign on with Allied.
Wheaton Worldwide Moving of Indianapolis, a much smaller company than Allied, has offered around $3 million for the company.
Although Global, which has filed for bankruptcy protection, chose to accept Allied's offer, it has opted for a legal procedure that keeps Wheaton in the game. When all three parties appear next month in a California bankruptcy court, Allied will announce the value of its offer based on the number of agents it has signed up. Wheaton will then be given the chance to make a higher bid.