Dynamex Gets $248 Million Takeover Bid

rookietrucker · Dec 8, 2010

Dynamex Gets $248 Million Takeover Bid

'Superior' offer could scuttle Greenbriar Equity acquisition plan

Dynamex received a higher offer from an unnamed bidder, jeopardizing its $237.8 million acquisition by transportation investor Greenbriar Equity Group. That unnamed suitor, which failed in an earlier bid for Dynamex, increased its offer for the same-day carrier to $25 per share, or approximately $247.7 million.

Greenbriar now has four days to come back with a better deal, under its agreement with Dynamex. If Dynamex terminates the deal, it must pay Greenbriar $7.7 million. Greenbriar has been struggling with its unnamed adversary for Dynamex, a Dallas-based company that operates in the U.S. and Canada with annual revenue of $406.5 million.

The private equity investor first offered $210.6 million for Dynamex, a publicly owned company, in October. It raised that bid to $237.8 million last month. Greenbriar's rival for Dynamex may have been Canadian transport giant TransForce, according to a report in Canada's The Globe and Mail newspaper.
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more here >> Dynamex Gets $248 Million Takeover Bid

Prairie Boy · Dec 8, 2010

While reading this, the first name I thought of is TransForce.

They have been on a buying spree for a few years now.

http://www.transforce.ca/operations.asp

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