February 22nd, 2024

TFI International announces deal to acquire Daseke for $8.30 per share

By The Canadian Press on December 22, 2023.

TFI International Inc. says it's acquiring Daseke Inc. for $8.30 in cash per common share. TFI International logo is seen in this undated photo. THE CANADIAN PRESS/HO, TFI *MANDATORY CREDIT*

MONTREAL – TFI International Inc. says it’s acquiring Daseke Inc. for $8.30 in cash per common share.

The Montreal-based transportation and logistics company says the deal is expected to close during the second quarter of 2024.

The firm says after the merger, Daseke will continue to operate its brands as part of TFI’s truckload segment.

Over the medium term, TFI says it will evaluate the potential benefits of splitting the truckload segment from its other segments into two public companies.

TFI says the total enterprise value of the deal is around $1.1 billion.

Shares in TFI were up more than six per cent in mid-day trading.

This report by The Canadian Press was first published Dec. 22, 2023.

Companies in this story: (TSX:TFII)

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