Tero Vesalainen
Daseke (NASDAQ:DSKE) leap 65.2% in early Friday morning trading at $8.14 after reaching an agreement with TFI International (TFI) to be acquired for $8.30 per share.
TFI International (TFI) expects the addition of Daseke (DSKE) to be neutral in terms of EPS for the Canadian company in 2024 and accrue at least $0.50 per share in 2025 based on current market conditions.
TFI International (TFI) will take over Daseke's 4,900 tractors, 11,000 flatbed and specialty trailers and one million square feet of industrial warehouse space. Following the merger, Daseke (DSKE) will continue to operate its portfolio of brands as part of TFI's Truckload segment. On a pro forma basis, the Truckload segment is expected to generate approximately $3.6 billion in total annual revenue, operate one of the largest comprehensive truckload businesses in Canada, and be one of the largest participants in the Canadian truckload market. specialized equipment less marketed in the country. USA. In the medium term, TFI expects to evaluate the potential benefits of separating into two separate public companies: one comprising the Truckload segment and another comprising the LTL, P&C and Logistics segments.
TFI International Shares (New York Stock Exchange:TFII) pink 6.25% in morning operations on Friday. Freight and trucking stocks that made small gains following the blockbuster deal included Heartland Express (HTLD) +3.31%Marten Transport (MRTN) +1.55%Radiant Logistics (RLGT) +1.49%and ArcBest (ARCB) +1.28%.
