Pacer International to Go Public
Pacer International, Walnut Creek, Calif., announced it will go public with an initial public offering of stock sometime in the first half of 2001
Pacer International, Walnut Creek, Calif., announced it will go public with an initial public offering of stock sometime in the first half of 2001.
The third-party logistics company filed a registration statement Friday with the Securities and Exchange Commission. The company is looking to raise $150 million, according to published reports, and will use much of the proceeds of the IPO to reduce outstanding bank debt.
The offering will be led by Morgan Stanley Dean Witter, Credit Suisse First Boston, Deutsche Banc Alex. Brown, Merrill Lynch & Co., and UBS Warburg LLC.
Pacer International's services include include wholesale stacktrain services and retail trucking services, intermodal marketing, freight consolidation and handling, international freight forwarding, and supply chain management services.
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