UPS to Buy Coyote Logistics for $1.8 Billion
UPS agreed to buy Coyote Logistics for $1.8 billion, the companies said on July 31 (here). The deal is expected to close within thirty days and is subject to "customary conditions and regulatory approvals," the companies said. UPS will pay…
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with available cash and existing and new debt arrangements, it said. Based in Chicago, "Coyote arranges customers’ freight shipments on available trucking capacity contracted to members of its large carrier network," the companies said. "UPS has also identified revenue growth and fleet efficiency synergy opportunities by hauling shipments arranged by Coyote using existing UPS backhaul capacity within its tractor/trailer fleet."