M&A

DB Schenker said it will acquire all outstanding shares of USA Truck common stock for $31.72 per share in cash, adding that the transaction values USA Truck at roughly $435 million, including assumed cash and debt.

The report said that DSV is looking to expand in North America, adding that CHR’s global forwarding business would provide DSV with what it called critical access to trans Pacific ocean trade lanes, with the global forwarding business potentially having a $9 billion price tag.

Jacksonville, Fla.-based Class I railroad carrier CSX Corp. announced today it has officially completed its acquisition of North Billerica, Mass.-based short-line railroad carrier Pan Am System Inc. and its short-line railroad subsidiaries. CSX officials said that bringing Pan Am into the fold helps in “expanding its reach” into the Northeast.

Logistics Management Group News Editor Jeff Berman recently caught up with Doug Waggoner, CEO of Chicago-based 3PL Echo Global Logistics. Waggoner offered up insights on a whole host of topics, including: inflation; rates and capacity; and M&A, among others.

Miami-based freight transportation and logistics services provider Ryder System Inc. confirmed it received an offer by an activist investor to acquire the company. Ryder said in a statement that it received an unsolicited indication of interest from New York-based HG Vora for $86.00 per share in cash

San Francisco-based real estate investment trust company Prologis signaled its desire to buy Indianapolis-based Duke Realty Corporation, a sustainable industrial real estate development and the largest domestic-only logistics REIT (Real Estate Investment Trust).

Chicago-based third-party logistics and technology-enabled transportation services provider Echo Global Logistics said this week that it has inked a definitive agreement to acquire Somerset, N.J.-based Roadtex Transportation Corporation, a national provider of integrated temperature-controlled supply chain services, for the confectionary, food, nutrition, and pharmaceutical mass retailer end-markets.

Maersk officials said that the purchase price is $1.68 billion (USD). They added that bringing Pilot into the fold will benefit shippers by offering customized international, domestic and cross-border logistics to Maersk’s North America landside logistics capabilities for business-to-business (B2B) and business-to-consumer (B2C) distribution models, as well as new supply chain capabilities for the big and bulky sector with white glove home delivery service.

Foxtrot’s book of business includes well-known companies like Coca-Cola, Nestle, and P&G. And Descartes said that Foxtrot’s advanced ML algorithms leverage millions of data points collected from vehicles in the field, helping customers reduce Last-Mile costs, improve customer service, and learn service factors that improve route efficiency and on-time performance.

Following a late February announcement in which it stated it inked an agreement to acquire 100% of Scranton, Pa.-based Kane Logistics, a provider of value-added warehousing and contract logistics services, from Kane’s ownership group, Harkness Capital Partners, Ogron, France-based ID Logistics, a provider of international contract logistics services, recently announced that the deal is now completed.

Following a December announcement, in which Philadelphia-based global third-party logistics (3PL) services provider BDP International changed ownership, with PSA International Pte Ltd, a global port group and partner for myriad cargo stakeholders, stating it acquired BDP from New York-based private equity firm Greenbriar Equity Group, the deal was made official earlier this week.

Soon after signaling its intent to divest its intermodal business, as part of a move geared towards creating two pure-play publicly traded companies in less-than-truckload (LTL) and truckload brokerage, as well as achieve an investment grade rating, Greenwich, Conn.-based XPO Logistics said today it has sold its intermodal business to Chicago-based STG Logistics, an asset-light provider of complex and highly customized logistics and transportation services focused on the global supply chain, for roughly $710 million.

Following an August 2021 announcement, in which it announced it inked an agreement to acquire Mainz, Germany-based global ocean freight forwarding services provider J.F. Hillebrand Group and its related subsidiaries for roughly $1.5 billion (EUR), global logistics services provider Deutsche Post DHL Group (DPDHL) said today the deal is now official.

Earlier today, the boards of directors of Greenwich, Conn.-based global contract logistics services provider GXO Logistics Inc. and London-based Clipper Logistics plc, a provider of omni-channel retail logistics services, said that they have come to terms on a recommended cash and share acquisition, in which Clipper will be acquired by GXO.

Ogron, France-based ID Logistics, a provider of international contract logistics services, recently announced it has inked an agreement to acquire 100% of Scranton, Pa.-based Kane Logistics, a provider of value-added warehousing and contract logistics services, from Kane’s ownership group, Harkness Capital Partners. The purchase price, according to ID Logistics, was $240 million. The deal remains subject to the approval of the United States antitrust authorities and is expected to be completed in mid-April. Once the transaction is complete, KANE will...