Search results
Results from the WOW.Com Content Network
TForce Freight, a subsidiary of TFI International, is an American less than truckload (LTL) freight carrier based in Richmond, Virginia. [1] The company was founded in 1935 as Overnite Transportation, [2] the name it used until 2006 when it was rebranded UPS Freight by new owner UPS. Its name changed to TForce Freight in 2021 when UPS sold the ...
On August 5, 2005, UPS announced that it has completed its acquisition of less-than-truckload (LTL) trucking company Overnite Transportation for US$1.25 billion. [34] This was approved by the FTC and Overnite shareholders on August 4, 2005. On April 28, 2006, Overnite officially became UPS Freight.
UPS decided to reduce the furlough to 109 pilots. The final pilot furloughed was in August 2010. UPS decided to recall pilots back to work in December 2011. The furlough officially ended in May, 2014 when the first pilot furloughed returned to work. [25] On September 1, 2016, UPS and the IPA agreed to a new 5-year contract.
However, for UPS the expected synergies did not materialize to the extent expected and the company decided to sell off its freight business and refocus on small package services. [44] [45] The TFI acquisition of UPS Freight was completed in April 2021 and nearly doubled TFI's size to US$6.5 billion in annual revenue. [46] The division's core ...
Purchase price allocations are performed in conformity with the purchase method of merger and acquisition accounting. In the United States, a second method (known as the pooling or pooling-of-interests method) was discontinued after the issuance of the Statement of Financial Accounting Standards No. 141 “Business Combinations” (“ SFAS 141 ...
In the context of a merger or acquisition transaction, asset purchase agreements have a distinct set of advantages and disadvantages compared to using an equity (or stock) purchase agreement or a merger agreement. In an equity or merger acquisition, the purchaser is guaranteed to receive all of the target's assets without exception, but also ...
OnTrac Logistics, Inc., was a privately held logistics company that contracted regional shipping services in the Western United States.In 2021, OnTrac Logistics was acquired by East Coast delivery firm LaserShip for $1.3 billion; the combined business's branding was later reverted to OnTrac.
A ploy to foil a takeover bid in which the target company goes out and buys a heavily regulated business so that acquisition of such a company becomes unattractive to the sharks. Sandbagging A defensive move in a takeover bid, in which the target company plays for time being, in the hope that a white knight will come to the rescue.