The Car and Truck Fleet and Leasing Management Magazine

FedEx to Buy Watkins for $780 Million

May 30, 2006

CHICAGO – FedEx Corp. announced on May 26 that it will acquire the long-haul, less-than-truckload operations of privately held Watkins Motor Lines and certain affiliates for $780 million in cash, according to Reuters. The $780 million was within the $700 million to $900 million range expected by analysts. The transaction is expected to close during the first quarter of fiscal 2007 and is not expected to have a material effect on the fiscal 2007 financial results of Memphis, Tenn.-based FedEx. As part of the deal, FedEx has also agreed to acquire the assets of Watkins’ business in Canada, Watkins Canada Express.
Twitter Facebook Google+

Comments

Please note that comments may be moderated. 
Leave this field empty:
 
 

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Sponsored by

Dick Prettyman was the senior fleet administrator for Cephalon, Inc. until he retired on March 27, 2009.

Read more

Up Next

More From The World's Largest Fleet Publisher