Dynamex Gets Competing Buyout Offer

Logistics and delivery firm Dynamex Inc. has received an acquisition offer for a higher price than the one it accepted last month, it said.

The offer is to buy Dynamex for $23.50 per share, higher than the $21.25 per share it was offered by an affiliate of Greenbrier Equity Group in October (click here for previous story).

Dynamex did not name the company with the competing bid, but it considers the company to be an excluded party from the merger talks, it said in a statement Tuesday.

Dynamex will give Greenbriar four days to adjust the terms of its deal. If Greenbriar does not adjust the terms, Dynamex will pay it a $6.3 million termination fee and be acquired by the other firm.

Dynamex, which provides same-day delivery services, is ranked No. 61 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.