TFII TFI International Inc

   By Stephen Nakrosis 
 

Shares of TFI International Inc. jumped following news the company agreed to acquire UPS Freight from United Parcel Service Inc.

TFI said it would acquire the less-than-truckload and dedicated truckload divisions in an $800 million deal. The deal will be "on a cash-free, debt-free basis before working capital and other adjustments," TFI said.

At 12:42 p.m. EST, shares of TFI advanced 26.12% to $64.62. Volume topped 533,000 shares, above the 65-day average volume of 123,306 shares.

At 12:32 p.m. EST, shares of UPS rose 2.55% to $163.05.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 25, 2021 13:09 ET (18:09 GMT)

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