Business
TransForce Inc. Acquires Shares of Vitran Corporation Inc.
MONTREAL, Jan. 24, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leade...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, Jan. 24, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader in the transportation and\n logistics industry, announces that it has indirectly acquired ownership\n of, and control and direction over, an aggregate of 1,763,478 common\n shares of Vitran Corporation Inc. (NASDAQ: VTNC, TSX: VTN),\n representing, to TransForce's knowledge, 10.75% of the issued and\n outstanding common shares of Vitran. TransForce acquired the shares\n during the period from December 17, 2012 to January 24, 2013.\n\n\nTransForce acquired the 1,763,478 shares through the facilities of the\n Toronto Stock Exchange and NASDAQ.  The 1,763,478 shares were acquired\n by TransForce at an average price of CDN$5.18, for aggregate\n consideration of CDN$9,136,403.  The shares were acquired by TFI\n Holdings Inc., a wholly-owned subsidiary of TransForce.\n\n\nTransForce acquired the shares of Vitran described in this press release\n for investment purposes, and may, in accordance with applicable\n securities laws, from time to time and at any time, acquire ownership\n of, or control or direction over, additional securities of Vitran in\n the open market or otherwise.  TransForce reserves the right to dispose\n of any or all of its securities of Vitran in the open market or\n otherwise, at any time and from time to time, and to engage in any\n hedging or similar transactions with respect to the securities, the\n whole depending on market conditions, the business and prospects of\n Vitran and other relevant factors.\n\n\nABOUT TRANSFORCE\nTransForce Inc. is a North American leader in the transportation and\n logistics industry. Operating across Canada and the United States,\n TransForce creates value for shareholders by identifying strategic\n acquisitions and managing a growing network of wholly-owned, operating\n subsidiaries. Under the TransForce umbrella, companies benefit from\n corporate financial and operational resources to build their businesses\n and increase their efficiency. TransForce companies service the\n following segments:\n\n\nPackage and Courier; \n\n\nLess-Than-Truckload; \n\n\nTruckload, which includes specialized truckload and dedicated services;\n\n\nSpecialized Services, which includes services to the energy sector,\n waste management, logistics and ancillary transportation...