Industrial stocks were mostly higher in afternoon trading. The S&P/TSX Industrials index was up 0.7%.
Canadian Pacific Railway (CP.TO): +1.6%
Bombardier (BBD-B.TO): -0.5%
TransForce (TFI.TO): flat
Air Canada (AC-B.TO): +1.6%
WestJet (WJA.TO): +0.3%
In corporate news, TransForce said that its subsidiary has signed an agreement to buy Goldner Hawn Johnson & Morrison's entire share capital of its portfolio company Transport America, a provider of truckload carriage and logistics services.
The purchase price represents a total enterprise value of approximately US$310 million, including the assumption of Transport America's debt of about US$150 million.
Meanwhile, Genesee & Wyoming Friday said that its newly established subsidiary, Rapid City, Pierre & Eastern Railroad has completed the acquisition of the west end of the Dakota, Minnesota & Eastern rail line from Canadian Pacific Railway, for near US$210 million plus approximately $7.5 million for the purchase of certain inventory, equipment and vehicles.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
