Logistec Corp News Today

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Canadian shares are likely to open on a mixed note Monday morning, tracking global stocks and the commodities markets. Worries about escalating tensions in the Middle East may weigh on the market.

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Logistec Corp. (TSX: LGT.A.TO, LGT.B.TO), a provider of specialized services to the marine community, announced Monday its definitive agreement to be acquired by Blue Wolf Capital Partners LLC for C$67.

MONTREAL - A private equity firm has signed an agreement to buy Logistec Corp. in an acquisition that values the Quebec-based company at about $1.2 billion.

The transaction values the cargo handling provider at $1.2 billion.

The Montreal-based marine cargo handling and environmental services company says it has struck a deal to be acquired by Blue Wolf Capital and Stonepeak for $67 a share

“As in all situations, we don’t like to see a possibility of a foreign takeover of a company,” economy minister said Friday in Montreal.

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