TFI International's Bold Billion-Dollar Bet On Daseke: A Game-Changer Or High-Stakes Gamble In The Transportation Arena?
Portfolio Pulse from Nabaparna Bhattacharya
TFI International Inc. (NYSE:TFII) is set to acquire Daseke, Inc (NASDAQ:DSKE) for $8.30 per share in cash, valuing the deal at approximately $1.1 billion. This represents a significant premium over Daseke's recent stock prices. The merger will bolster TFI's Truckload segment, making it one of the largest in Canada and a major player in the U.S. specialized truckload market. The deal is expected to be EPS-neutral in 2024 and accretive by at least $0.50 per share in 2025. Shares of both companies rose on the news, with TFII up 5.15% and DSKE up 64.97%.
December 22, 2023 | 2:59 pm
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POSITIVE IMPACT
Daseke's shares jumped 64.97% after the acquisition announcement by TFI International, reflecting the premium offered and the market's positive reception of the deal.
The substantial premium offered by TFI International for Daseke's shares has resulted in a sharp increase in DSKE's stock price, indicating a strong short-term positive impact.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
TFI International's acquisition of Daseke is expected to be EPS-neutral in 2024 and accretive by at least $0.50 per share in 2025, indicating a positive outlook for the company's earnings and growth.
The acquisition is a significant strategic move for TFI, likely to enhance its market position and earnings in the medium term. The immediate positive stock price reaction reflects investor optimism.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100