FEDEX BUYS AMERICAN FREIGHTWAYS
FedEx Corporation has announced that it has acquired regional freight carrier, American Freightways. FedEx, also the parent company of regional LTL carrier Viking Freight, will combine the two to create the second-largest regional LTL motor carrier in the United States, with annual revenues of more than $1.6 billion.
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EMERY AND USPS REACH AGREEMENT
CNF's Emery Worldwide Airline unit has reached an agreement with the U.S. Postal Service to conclude a transportation and sortation contract for Priority Mail.
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WISCONSIN CENTRAL WEIGHS ITS OPTIONS
Wisconsin Central Transportation Corp. has retained investment banking firm Goldman, Sachs Group Inc. to explore a range of strategic alternatives to maximize shareholder value. Wisconsin Central is considering the sale of the company as well as divestiture of its international holdings.
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