Canadian trucking company TransForce Inc said it would purchase truckload transport and logistics company Transport America Inc for $310 million, including debt, from private equity firm Goldner Hawn Johnson & Morrison Inc.Transport America's network includes 12 terminals in the United States. The company operates about 1,500 tractors and about 4,400 trailers through its own fleet and independent contractors.Transport America had filed with U.S. regulators in December to list its shares on the Nasdaq under the symbol "TRAM." The initial public offering is expected to raise about $75 million.The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
Transforce Inc. is engaged in transportation and logistics services. Shares of TFI traded higher by 0.77% or $0.18/share to $23.70. In the past year, the shares have traded as low as $19.41 and as high as $25.88. On average, 270983 shares of TFI.TO exchange hands on a given day and today's volume is recorded at 373736.
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