TFI International Inc. announced that it has closed on the previously announced acquisition of Daseke, Inc. (NASDAQ: DSKE), a flatbed and specialized transportation and logistics companies in North America, for US $8.30 in cash per common share. The total enterprise value of the transaction is approximately US $1.1bn, including the merger consideration for the common stock, redemption of Daseke’s Series B preferred stock, payoff or assumption of Daseke’s Series A preferred stock and outstanding debt, net of cash, and estimated transaction fees and expenses.
In addition, on March 22, 2024, TFI International closed on a US $500m term loan in an overcommitted transaction priced at a spread of SOFR plus a range of 140 to 165 basis points, to vary over time depending on the company’s funded-debt-to-EBITDA ratio, and consisting of three tranches including a one-year facility of US $100 million maturing March 2025, a two-year facility of US $100 million maturing March 2026 and a three-year facility of US $300 million maturing March 2027.
Participating banks included National Bank of Canada, Royal Bank of Canada, Bank of America, N.A., The Toronto-Dominion Bank, Bank of Montreal, PNC Bank, N.A., U.S. Bank National Association, Morgan Stanley Bank, N.A., and Goldman Sachs.
Source: TFI International
