Daseke debt to be paid off or assumed by TFI via acquisition

Chicago, Dec. 22 – Daseke Inc.’s debt will either be paid off or assumed by TFI International Inc. through an acquisition, according to a press release.

The $1.1 billion total enterprise value includes the merger consideration for Daseke’s common stock, retirement of Daseke’s outstanding preferred stock, payoff or assumption of outstanding debt, net of cash, and estimated transaction fees and expenses.

TFI International expects to fund the transaction using cash balances and available financing sources and expects to seek to retain in place certain of Daseke’s existing equipment financing arrangements.

The closing is not conditioned on financing.

The transaction is subject to approval of holders of a majority of the outstanding shares of Daseke common stock and other customary closing conditions, including regulatory approval.

J.P. Morgan Securities LLC is serving as exclusive financial adviser to Daseke, and Kirkland & Ellis LLP is serving as Daseke’s legal adviser.

Scudder Law Firm, P.C., LLO, Lincoln, Neb., served as TFI International’s legal adviser in connection with the transaction.

Daseke is an Addison, Tex.-based owner and consolidator of flatbed and specialized transportation. Quebec-based TFI is a leader in the transportation and logistics industry in North America.

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