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DSV, founded by 10 Danish truckers in the 1970s, has grown through a string of acquisitions in the fragmented transport industry, including buying targets that were larger than itself.

Groendyke Transport on Aug. 19 announced a definitive agreement to acquire all the tank truck assets of Linden Bulk Transportation from Depot Connect International.

A Marathon Oil Corp. shareholder sued to block its proposed acquisition by ConocoPhillips, claiming the $17 billion deal “significantly undervalues” the target company.

Permian Resources Corp. will buy some of Occidental Petroleum Corp.’s West Texas assets for $817.5 million, it said in a statement.

Hendrickson bought fellow truck suspension manufacturer Reyco Granning for an undisclosed sum, it said June 4.

TFI International acquired Quebec-based specialized truckload carrier Transport MJ Lavoie for an undisclosed sum, its fourth purchase so far in 2024.

The joining of trucking companies comes with challenges throughout the merger and acquisition process. The slow-moving procedure was exacerbated during the boom/bust cycle of 2022-23.

As trucking mergers and acquisitions followed the freight market into a down cycle, conditions have stabilized, showing positive signs for the sector going forward.

Mullen Group closed its previously announced acquisition of fellow Canadian business ContainerWorld Forwarding Services, the company revealed May 3.

Profits at TFI International in the fourth quarter fell 14.4% compared with the same period a year earlier, as acquisitions softened the impact of a weak freight environment.