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UPS in talks for 3PL Coyote Logistics valued at US$1.8 billion
ATLANTA's United Parcel Service (UPS) has been in talks to purchase Chicago third-party logistics providers (3PL), according to Bloomberg.
Coyote said at the time the combined company would be one of the biggest 3PL in North America, with run rate revenues of more than $2 billion, 17 locations, about 40,000 contracted carriers, and 1,750 employees.
The deal for Coyote would be worth at least US$1.8 billion and an agreement could be reached within a week or two, two anonymous sources with knowledge of the matter told Bloomberg.
The sources said Coyote is backed by New York private equity firm Warburg Pincus, which first invested in the company in 2007 and could potentially use an initial public offering to sell its stake.
Warburg Pincus has assisted Coyote in previous deals, including a merger with Access America Transport last March.
Coyote said at the time the combined company would be one of the biggest 3PL in North America, with run rate revenues of more than $2 billion, 17 locations, about 40,000 contracted carriers, and 1,750 employees.
The deal for Coyote would be worth at least US$1.8 billion and an agreement could be reached within a week or two, two anonymous sources with knowledge of the matter told Bloomberg.
The sources said Coyote is backed by New York private equity firm Warburg Pincus, which first invested in the company in 2007 and could potentially use an initial public offering to sell its stake.
Warburg Pincus has assisted Coyote in previous deals, including a merger with Access America Transport last March.
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