Dynamex Inc. (NASDAQ: DDMX) (the “Company” or “Dynamex”) today announced the completion of its acquisition by TransForce Inc. (“TransForce”).
The Company’s President and Chief Executive Officer, James L. Welch, stated, “The completion of our deal with TransForce marks an important milestone for Dynamex. We are excited to begin the next chapter of our corporate growth and are proud to be joining the TransForce family. TransForce recognized the value proposition we have developed over the last 20 years and they share our vision for growth and our commitment to customer service. Not only did this transaction deliver significant value to our shareholders, it is a strong endorsement of our business model and provides significant new growth opportunities for both companies. Dynamex will benefit from the experience, geographic reach and synergies provided by TransForce and we look forward to working with Alain Bédard and his team to capitalize on the significant opportunities in the logistics space.”
Alain Bédard, Chairman, President and Chief Executive Officer of TransForce, added “Dynamex adds a highly respected brand to our Package and Courier capability. Its same-day delivery enhances service to existing customers while the combination of TransForce and Dynamex constitutes a powerful offering to potential new clients. Importantly, incorporating Dynamex’s services will open doors for TransForce in the U.S. market. We are confident that the combination of TransForce and Dynamex will yield attractive synergies with our existing divisions and will create value for our shareholders.”
Pursuant to the terms of the merger agreement, the Company’s stockholders are entitled to receive $25.00 in cash, without interest, less any applicable withholding taxes, for each share of Dynamex common stock owned by them. As a result of the merger, the Company’s common stock will no longer be listed for trading on NASDAQ.
Stockholders of record will receive a letter of transmittal and instructions on how to surrender their shares of Dynamex common stock in exchange for the merger consideration. Stockholders of record should wait to receive the letter of transmittal before surrendering their shares.