Fleet Management

TransForce Ups Offer for Vitran

December 22, 2013

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Trucking company TransForce has made a new offer to purchase rival Canadian carrier Vitran and it just may push Manitoulin Transport’s recent offer straight off the table.  

TransForce is now offering $6.50 per share for the company for shares it does not own, $2 better per share than the offer it made earlier in the year and 50 cents per share better than Manitoulin’s recent offer of $6 per share.

Transforce currently owns just less than 20% of Vitran’s outstanding share while Manitoulin has a limited amount of time to match the Transforce offer.

Read more about what is likely going to be a bidding was from Today’s Trucking as well as the Brandon Sun.

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