TFI International Shares Climb 26% After News of $800 Million UPS Freight Deal
By Stephen Nakrosis
Shares of TFI International Inc. jumped following news the
company agreed to acquire UPS Freight from United Parcel Service
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
At 12:32 p.m. EST, shares of UPS rose 2.55% to $163.05.
--Write to Stephen Nakrosis at firstname.lastname@example.org
(END) Dow Jones Newswires
January 25, 2021 13:09 ET (18:09 GMT)
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