TransForce Buys Stake in Vitran

TransForce Buys Stake in Vitran

North American trucking company TransForce has acquired about 1.8 million common shares of less-than-truckload operator Vitran Corp., representing 10.75 percent of the issued and outstanding common shares of Vitran.

TransForce acquired the shares during the period from Dec. 17, 2012, to Jan. 24, through the facilities of the Toronto Stock Exchange and NASDAQ. They were acquired at an average price of 5.18 Canadian dollars (about US$5.13) for a total of $9.1 million. The shares were acquired by TFI Holdings, a wholly-owned subsidiary of TransForce.