Dynamex Inc., a provider of same-day delivery and logistics services in the United States and Canada, on Tuesday, Feb. 1, announced that it has received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the proposed merger with TransForce Inc.
The Dallas-based company said it received a “no action letter” from the Canadian Competition Bureau indicating that the commissioner of the bureau does not at this time intend to make an application for an order under Section 92 of Canada’s Competition Act to challenge the merger. Dynamex says it also has received a notice from the Canadian Minister of Transport, Infrastructure and Communities that the merger does not raise public interest issues as it relates to national transportation in Canada under the Canada Transportation Act of 1996.
Dynamex says clearance under HSR, the Competition Act and the Transportation Act satisfies one of the closing conditions to the merger, which remains subject to approval by the company’s stockholders and other customary conditions. The transaction is expected to be completed in the first calendar quarter of 2011.
Dynamex announced on Dec. 14 that it had terminated a merger agreement previously entered into with an affiliate of Greenbriar Equity Group and had entered into a new merger agreement with TransForce, ending a bidding war for the Dallas-based company. TransForce agreed to acquire Dynamex for $25 per share in cash.