Clarke Increases Stake in Vitran

Canadian holding company Clarke Inc. said it has purchased 1,000 shares of Vitran Corp., bringing its total stake in the company to 10%.

Clarke bought the shares for $4.91 each, it said in a Sept. 30 statement.

The announcement came a week after Vitran announced that it was selling its United States less-than-truckload business to a company owned by Matthew Moroun.

Two days later, Canadian trucking firm TransForce Inc. offered Vitran $4.50 per share for its Canadian operations. Vitran acknowledged receiving the offer, but did not comment on it.

Clarke operates in the LTL and truckload sectors, as well as in the home-heating business.