M&A activity

Prologis completes largest-ever sale of logistics warehouses in the UK

Prologis facility in Coventry, United Kingdom

San Francisco-based Prologis Inc. (NYSE: PLD) announced that it has completed the largest-ever portfolio sale of logistics warehouses in the U.K.

In a Wednesday evening press release, the world’s leading logistics real estate investment trust reported the sale of 22 stand-alone buildings totaling 4.3 million square feet to real estate funds managed by New York-based The Blackstone Group (NYSE: BX).

The price tag was 473 million pounds (U.S. $618 million).

The properties were acquired by Prologis...

https://www.freightwaves.com/news/prologis-completes-largest-ever-sale-of-logistics-warehouses-in-the-uk

Forward Air acquires intermodal drayage provider Value Logistics

Containers on trucks

Toggling between organic and inorganic initiatives, Forward Air (NASDAQ: FWRD) continues to make acquisitions and announce service offering expansions. On Monday, the Greeneville, Tennessee-based trucking company added another tally mark to the inorganic column, acquiring intermodal drayage outfit Value Logistics.

Founded in 1996 and based in Memphis, Tennessee, Value Logistics is a privately held drayage provider with 20 employees and 30 independent contractors, generating approximately $6...

https://s29755.pcdn.co/news/forward-air-acquires-intermodal-drayage-provider-value-logistics

Fast track to public listings dealt a blow amid Nikola fallout

Nikola headquarters

The ongoing fallout over Nikola Corp. (NASDAQ: NKLA) may create some concern about the willingness of investors to pour money into special purpose acquisition companies (SPACs) and weigh further on what has been a down year for initial public offerings (IPOs).

The Phoenix-based designer and maker of battery- and hydrogen-electric vehicles and components finds itself in a tough position shortly after going public in June. The concern stems from a short seller report questioning the validity of...

https://s29755.pcdn.co/news/fast-track-to-public-listings-takes-a-blow

Cold storage gets $1.6 billion richer

Lineage's Sunnyvale facility in Dallas, Texas

The world’s largest temperature-controlled logistics provider, Lineage Logistics, announced it has raised $1.6 billion in fresh equity from several different investors. The Wednesday press release said the company plans to use the funds for further acquisitions as well as investments in tech and automation.

“This significant investment — from both new and existing investors — is validation of our business model, our innovative strategy and our plans to continue expanding our footprint as the...

https://s29755.pcdn.co/news/cold-storage-gets-16-billion-richer

The Daily Dash: Tax penalties, HOS exemptions and a better way to price insurance

Mileage based user fee study finds trucks pay less in tax

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, a new study has found that fuel-efficient trucks may pay higher taxes than older, fuel-guzzling trucks under a mileage-based system. Plus, more hours-of-service exemptions have been issued, an insurance startup thinks it has a better way to price insurance, and TFI International could be shifting into acquisition mode.

Mileage-based taxes may not solve highway funding problems

A multi-state study of...

https://s29755.pcdn.co/news/the-daily-dash-tax-penalties-hos-exemptions-and-a-better-way-to-price-insurance

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