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Vitran Corporation (NASDAQ: VTNC) $5.44. Today announced that it has entered into a definitive arrangement agreement under which 2398946 Ontario Inc., an affiliate of Manitoulin Transport Inc. , will acquire all of the issued and outstanding shares of Vitran for US$6.00 in cash per share. The total transaction, including the assumption of Vitran's outstanding net debt of approximately US$29 million at October 31, 2013, is valued at approximately US$128 million. The US$6.00 share price represents a 10.3% premium to Vitran's closing price on NASDAQ on December 9, 2013, and a 38.2% premium to the closing price on NASDAQ on September 20, 2013, the day before the announcement of the sale of Vitran's US LTL business.
What They Do: Vitran Corporation Inc., through its wholly-owned subsidiaries, is a group of transportation companies offering national, regional, expedited and transborder less-than-truckload services throughout Canada.
HD Supply Holdings (NYSE: HDS) $21.65. Today reported net sales for the third quarter of fiscal 2013 ended November 3, 2013 of $2.3 billion, an increase of $151 million, or 7 percent, as compared to the third quarter of fiscal 2012. Organic sales growth was 6 percent versus prior year. The third quarter performance represents the fourteenth consecutive quarter of year-over-year sales growth with continued growth in Facilities Maintenance, Waterworks, Power Solutions and White Cap.
The company believes its sales performance represents growth of approximately 400 basis points in excess of its estimate of market growth.Net income for the third quarter of fiscal 2013 improved $101 million to $51 million compared to a Net loss of $50 million for the third quarter of fiscal 2012.
What They Do: HD Supply is one of the largest industrial distributors in North America.