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VITRAN SUDDENLY A HOT COMMODITY

Vitran Corp. announced in late September it has agreed to sell its US business to the Morouns. Yes, those Morouns, owners of that cash cow known as the Ambassador Bridge, as well as a number of transportation companies. Since it divested itself...


Vitran Corp. announced in late September it has agreed to sell its US business to the Morouns. Yes, those Morouns, owners of that cash cow known as the Ambassador Bridge, as well as a number of transportation companies. Since it divested itself of its US operations, Vitran has suddenly attracted a lot of interest on this side of the border.

TransForce made a play for the company’s outstanding shares, in an offer that was contingent on Vitran closing the sale of its US division. This move would consolidate the Canadian LTL space. Just yesterday, Clarke announced it was upping its stake in Vitran, with the purchase of 1,000 shares, bringing its total hold to 10% of the company. TransForce, for the record, owns 9.51% of Vitran’s outstanding shares. Vitran hasn’t responded, except to say it has received the TransForce offer. What do the experts make of all this? You can read some of their insights here.


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Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
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