Business
TransForce Inc. sells shares of Vitran Corporation Inc.
MONTREAL, March 12, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American lead...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\n\n\n\nMONTREAL, March 12, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American leader in the transportation and\n logistics industry, announces that it has indirectly disposed of\n 500,000 common shares of Vitran Corporation Inc. (NASDAQ: VTNC, TSX:\n VTN), representing, to TransForce's knowledge, 3.05% of the issued and\n outstanding common shares of Vitran.  As a result of this disposition,\n TransForce has indirectly ownership of, and control and direction over,\n an aggregate of 1,263,478 common shares of Vitran, representing, to\n TransForce's knowledge, 7.70% of the issued and outstanding common\n shares of Vitran.  TransForce sold the shares on March 7, 2013.\n\n\nTransForce sold the 500,000 shares through the facilities of Nasdaq. \n The 500,000 shares were sold by TransForce at a price of US$6.20 per\n share, for aggregate proceeds to TransForce of US$3,100,000.  The\n shares were sold by TFI Holdings Inc., a wholly-owned subsidiary of\n TransForce.\n\n\nTransForce is holding the shares of Vitran described in this press\n release 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\nTruckload, which includes specialized truckload and dedicated services;\n\n\nSpecial...