Freight brokerage Echo Global Logistics announced Friday that it would be taken private by middle-market private equity shop The Jordan Co. (TJC) in a deal valued at $1.3 billion.
TJC will pay cash for the outstanding shares of Echo at a price of $48.25, a 54% premium to Thursday’s closing price and 32% higher than the stock’s all-time high recorded in September 2018.
Over the last three months, Echo’s (NASDAQ: ECHO) shares traded in a range of $27 to $33 per share, which valued its...
https://www.freightwaves.com/news/lower-valued-broker-echo-punches-out-at-a-premium