TransForce Inc. Signs Definitive Merger Agreement to Acquire

Document Sample
TransForce Inc. Signs Definitive Merger Agreement to Acquire Powered By Docstoc
					For Immediate Release

      TransForce Inc. Signs Definitive Merger Agreement to
            Acquire Dynamex Inc. for US$248 Million
          Acquisition will significantly enhance TransForce’s package and courier
                                    transportation services

Montreal, Quebec, December 14, 2010 - TransForce Inc. (TSX: TFI-T), the leader in the Canadian transportation
and logistics industry, today announced that it has entered into a definitive agreement and plan of merger to acquire
all of the outstanding shares of Dynamex Inc. (NASDAQ: DDMX) for a purchase price of US$25.00 per share, in
cash, representing a total purchase price of approximately US$248 million (the “Acquisition”). In connection with the
definitive merger agreement, Dynamex informed TransForce that Dynamex has terminated the agreement and plan
of merger it entered into on October 1, 2010, as amended on November 30, 2010, with affiliates of Greenbriar Equity
Group LLC, providing for the sale to such affiliates of all of the outstanding shares of Dynamex for a purchase price
of US$24.00 per share. Dynamex’s Board of Directors has unanimously approved the acquisition by TransForce.

Headquartered in Dallas, Texas, Dynamex is a leading provider of same-day delivery and logistics services in the
United States and Canada, offering a wide range of door-to-door fulfillment and distribution services for clients of all
sizes and needs for more than 20 years. Dynamex employs more than 1,500 workers and has contracts with
approximately 3,700 independent contractors. It has an extensive network of more than 60 business centers across
the United States and Canada. For the twelve-month period ended October 31, 2010, Dynamex generated sales of
approximately US$418 million.

The Acquisition of Dynamex by TransForce is conditional upon a number of factors, including approval of the
Acquisition by holders of a majority of Dynamex’s common shares, expiration or termination, as the case may be, of
the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the Canada Transportation Act
and the Competition Act (Canada), and other customary closing conditions. Assuming the satisfaction of all
conditions, the Acquisition is expected to close in the first quarter of calendar 2011. The Acquisition will be financed
using TransForce’s existing credit facilities and is expected to be immediately accretive to TransForce’s 2011

"TransForce is currently a significant player in the package and courier sector in Canada and the acquisition of
Dynamex will enhance service to existing customers while proposing a powerful service offering to potential clients,
as Dynamex specializes almost exclusively in same-day delivery services, a segment generally not offered by
TransForce, and by opening doors to the U.S. markets," said Alain Bédard, Chairman, President and Chief Executive
Officer of TransForce. We are highly confident that Dynamex shareholders will enthusiastically support our offer as it
represents a compelling value proposition. We believe that the combination of TransForce and Dynamex will yield
attractive synergies with our existing divisions and will create value for our shareholders. With our track record of
successfully integrating acquisitions, we are ideally positioned to take advantage of every business opportunity
between our two companies. TransForce is pleased to welcome Dynamex’s management and employees, who have
built Dynamex’s strong brand recognition.”


TransForce Inc. ( is the leader in Canada’s transportation and logistics industry. Headquartered in
Montreal, Quebec, TransForce creates value for shareholders through managing and investing in a growing network
of wholly-owned, operating subsidiaries. TransForce provides a comprehensive and unique combination of

capabilities, resources and geographical coverage in both domestic and trans-border markets. Its companies
currently operate in four well-defined business segments:
               Package and Courier;
               Specialized Services, which includes energy related services, waste management; logistics, fleet
               management, and personnel services;
               Truckload, specialized truckload and dedicated services.

TransForce Inc. shares are listed on the Toronto Stock Exchange under the symbol TFI.

Forward-Looking Statements

Except for historical information provided herein, this press release may contain information and statements of a
forward-looking nature concerning the future performance of TransForce. These statements are based on
suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors
may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand
for TransForce's products and services, the impact of price pressures exerted by competitors, and general market
trends or economic changes. As a result, readers are advised that actual results may differ from expected results. No
assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if
any of them do so, what benefits that TransForce will derive therefrom. In particular, no assurance can be given as to
whether the proposed acquisition of Dynamex Inc. will be completed.

For further information:

Investors:                                               Media:
Alain Bédard                                             Rick Leckner
Chairman, President and CEO                              MaisonBrison
TransForce Inc.                                          (514) 731-0000
(514) 331-4200                                 

HBdocs - 9585253v4