Q: Thoughts on the TFII news today?
5i Research Answer:
TFII announced that they will be acquiring Daeske Inc. for $8.30 a share in cash ($1.1 bln). The acquisiton is expected to be EPS neutral for 2024 and accretive by $0.50 in 2025. The deal is being done at a very healthy premium of 69%.
This deal also moves forward TFII's potential plans to separate into two companies, a specialized truckload business and an LTL, P&C and logistics business. But it looks like the focus at this time is simply on integrating the Daeske assets.