Dynamex Inc. (DDMX) rose 38 percent, the highest intraday PPS since September 2000, after the provider of same-day delivery and logistics services agreed to be acquired for $210 million, or $21.25 a share, by Greenbriar Equity Group LLC, a transportation-and logistics-focused PE firm.
The acquisition, which was unanimously approved by the Dynamex Inc. Board of Directors, represents a premium of more than 39% over Thursday’s closing price and a 58.4% premium over the average closing price for the 30 trading days prior to October 1, 2010.
Dynamex CEO James Welch said in a statement: “We are pleased to reach agreement on a transaction with Greenbriar that we believe provides significant value to our stockholders.”
At last check, DDMX shares were up $5.71 to $21.02, a gain of 37.30%.
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