Canadian trucking firm TransForce Inc. has completed its acquisition of logistics and delivery firm Dynamex Inc., Dynamex said Wednesday.
Dynamex shareholders are entitled to $25 per share for the transaction, the company said in a statement.
“Incorporating Dynamex’s services will open doors for TransForce in the U.S. market,” Alain Bédard, CEO of TransForce, said in the statement. “We are confident that the combination of TransForce and Dynamex will yield attractive synergies with our existing divisions and will create value for our shareholders.”
“The completion of our deal with TransForce marks an important milestone for Dynamex,” said James Welch, CEO of Dynamex.
TransForce’s offer of $25 per share beat out an acqusition offer from Greenbriar Equity Group. Greenbriar had offered $21.25 per share last year, and then increased the offer to $24 per share.