TransForce said that a key aspect of the proposal is that Vitran would remain a standalone business. TransForce also noted that they are “very keen that the existing management team remain with Vitran going forward to continue to execute their business plan.”
TransForce said they are in the process of reviewing its alternatives related to the Proposal. That includes taking the proposal directly to shareholders if the “board of directors do not engage in negotiations.”
TransForce currently controls 9.51% of the outstanding shares of Vitran.