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Clarke, Fastfrate call off their deal

TORONTO, Ont. - The deal that would have seen the acquisition of Consolidated Fastfrate Inc. by Clarke Inc. has been scrapped. Announced in August, the deal hit a snag on Friday, Sept. 22, just eight ...


TORONTO, Ont. – The deal that would have seen the acquisition of Consolidated Fastfrate Inc. by Clarke Inc. has been scrapped. Announced in August, the deal hit a snag on Friday, Sept. 22, just eight days before it was scheduled to close.

“Talks have been discontinued; there’s not going to be a deal with Fastfrate,” confirmed Darell Hornby, Clarke’s president and chief operating officer. “There were just a number of things we couldn’t agree on.”

Both companies have domestic rail forwarding operations based in Concord, Ont. The bulk of Clarke’s business at its Concord facility comes from Canadian National Railway, while Fastfrate works with Canadian Pacific Railway. The merger of the two operations would have created combined revenues for the company of more than $200 million. n


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