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Buying - USA - FedEx makes trucking move
Memphis,TN,USA -commercialappeal.com (subscription), by Jane Roberts -May 20, 2006: -- FedEx Corp. is buying Watkins Motor Lines -- the largest privately run less-than-truckload carrier in the nation -- and the best ticket it has for bulking up in a market showing impressive gains... Neither FedEx or Watkins would confirm details, but sources say FedEx will announce the acquisition as early as June 1... Analysts say the price could range up to $1 billion... Watkins, about a third the size of FedEx Freight, gives the division 139 terminals, 10,000 employees and trailers, 3,400 tractors and all its customers across its North American network... Although diesel prices have more than doubled since 2003, the shortage of truck drivers is now driving many of the big decisions in trucking companies...
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