- TFI International (TFII) announced that it has closed the acquisition of UPS Freight
- UPS Freight is the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service Inc.
- The deal is in exchange for US$800 million on a cash-free, debt-free basis before working capital and other adjustments
- Approximately 90 per cent of the acquired business will operate independently within TFI’s LTL business segment under its new name, TForce Freight
- TFI International is up 0.25 per cent on the day, with shares trading at C$107.20 at 2:22 pm ET
TFI International (TFII) announced that it has closed the acquisition of UPS Freight.
UPS Freight is the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service Inc.
The deal is in exchange for US$800 million on a cash-free, debt-free basis before working capital and other adjustments.
Approximately 90 per cent of the acquired business will operate independently within TFI International’s LTL business segment under its new name, TForce Freight, while acquired dedicated TL assets will join TFI’s TL business segment.
TFI International is a North American leader in the transportation and logistics industry, operating across the United States, Canada and Mexico through its subsidiaries.
TFI International companies handle package and courier, Less-Than-Truckload, truckload and logistics.
TFI International is up 0.25 per cent on the day, with shares trading at C$107.20 at 2:22 pm ET.