TORONTO, ON – Radiant Global Logistics has entered into an agreement to purchase the third-party logistics company Wheels Group Inc.
Pending approval from Wheels Group shareholders, Radiant Global Logistics has agreed to pay $0.77 per common share. Shareholders can choose to receive either cash or 0.151384 of a common stock of Radiant Logistics, Inc. valued at USD$4.25. Radiant Logistics is the parent company of Radiant Global Logistics.
The financial arrangement is expected to close early in the second calendar quarter of 2015, subject to regulatory and court approval.
Founded in 1988, Wheels is a non-asset provider of third-party logistics. It develops advanced supply chain solutions delivered through its qualified partner network of over 6,000 truck, rail, air and ocean carriers.
Wheels serves consumer goods, food and beverage, manufacturing and retail clients through 18 offices throughout the United States and Canada.
Radiant is a non-asset based transportation and logistics company providing domestic and international freight forwarding services and an expanding array of value-added solutions, including customs and property brokerage, order fulfillment, inventory management and warehousing.
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