TransForce Ups Offer for Vitran
December 22, 2013
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.