Roadway finalizes acquisition of Arnold

The total value of the acquisition, net of the sale of the logistics operation, is approximately $491 million, said Roadway. The carrier funded the acquisition with the proceeds of various financings.

As a result of the acquisition, the shareholders of Arnold Industries will receive $21.75 per share in cash. After the acquisition of Arnold Industries was completed, Arnold Industries' logistics business was sold to Edward H. Arnold and Arnold Logistics, LLC for $105 million in cash.