MONTREAL — TFI International Inc. says it's acquiring Daseke Inc. for $8.30 in cash per common share.

The Montreal-based transportation and logistics company says the deal is expected to close during the second quarter of 2024.

The firm says after the merger, Daseke will continue to operate its brands as part of TFI's truckload segment.

Over the medium term, TFI says it will evaluate the potential benefits of splitting the truckload segment from its other segments into two public companies.

TFI says the total enterprise value of the deal is around $1.1 billion.

Shares in TFI closed up almost eight per cent on Friday at $175.29.

This report by The Canadian Press was first published Dec. 22, 2023.

Companies in this story: (TSX:TFII)

© 2023 The Canadian Press. All rights reserved., source Canadian Press DataFile