According to a report of MSN, Trucking company Overnite Corp. shareholders of record as of Jue27th will vote Aug. 4th on if they are going to accept a proposed $1.25 billion acquisition by
UPS Inc.. In the largest ever deal for Atlanta-based UPS, the company offered OverniteShareholders a price of $43.25 per share. The deal strengthens UPS position as a topmotor freight carrier and enables the company for a better competition against rivals such as FedExCorp. Both companies agreed to the deal in May. The acquisition has already beenapproved by the Federal Trade Commission.Shares of Overnite rose 26 cents to close at $42.91 on the Nasdaq. Meanwhile, UPS shares added$1.42, or 2.1 percent, to close at $69.82 on the New York Stock Exchange. FedEx shares edged up$1.44 to $81.56 on the NYSE.
