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UPS Freight being sold to TFI International Inc.

Mike

Well-Known Member
MONTREAL, Jan. 25, 2021 (GLOBE NEWSWIRE) -- TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced that it has signed a definitive agreement to acquire UPS Freight, the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service, Inc. (NYSE: UPS), for US$800 million on a cash-free, debt-free basis before working capital and other adjustments. Approximately 90% of the acquired business will operate independently within TFI International’s LTL business segment under its new name, “TForce Freight”, while acquired dedicated TL assets will join TFI’s TL business segment. The transaction is subject to usual and customary closing conditions, including regulatory approvals.

 
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MONTREAL, Jan. 25, 2021 (GLOBE NEWSWIRE) -- TFI International Inc. (NYSE and TSX: TFII), a North American leader in the transportation and logistics industry, today announced that it has signed a definitive agreement to acquire UPS Freight, the less-than-truckload (LTL) and dedicated truckload (TL) divisions of United Parcel Service, Inc. (NYSE: UPS), for US$800 million on a cash-free, debt-free basis before working capital and other adjustments. Approximately 90% of the acquired business will operate independently within TFI International’s LTL business segment under its new name, “TForce Freight”, while acquired dedicated TL assets will join TFI’s TL business segment. The transaction is subject to usual and customary closing conditions, including regulatory approvals.

So basically Transport America owns UPS freight.
Didn't see this coming.
 
Ya parcel owns them,not freight if I read that right.
Yep, both subsidiaries of Brown. There's UPS Autologistics, too. There was scuttlebutt that Coyote would swallow UPSA when that purchase happened, but it didn't happen.
 
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It looks like Canada Cartage will not be driving UPS Freight trucks and dragging Overnite trailers. It looks like it will move over to T-Force and probably work out of the ATS yard.

The company I work for was bought by TFI. So far I have not seen any negatives. We had good benefits before TFI and now we have great benefits.
 
I just saw on the news TFI stock jumped 30% based on the UPS Freight deal.
 
It looks like Canada Cartage will not be driving UPS Freight trucks and dragging Overnite trailers. It looks like it will move over to T-Force and probably work out of the ATS yard.

The company I work for was bought by TFI. So far I have not seen any negatives. We had good benefits before TFI and now we have great benefits.
Arnold Brothers is actually pulling wiggle wagons for UPS now. They took over the Calgary to Salt Lake run from Candahar Carnage back in the Fall.

It’ll be interesting to see how they handle the work. I know TFI still outsources work to Canada Cartage out West. I see them often with TFI trailers.
 
The company I work for was bought by TFI. So far I have not seen any negatives. We had good benefits before TFI and now we have great benefits.
Hopefully it stays positive for you. Contrans out West has been really tight since COVID hit. They shut the wash bays and truck wash accounts down back in March. Still haven’t opened them back up. Pinching pennies like they’re in bad shape. But yet they couldn’t pass up buying a competitor who was going bankrupt recently. Lol
 

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