Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, April 8, 2022

Article Excerpt

CARGOJET INC., $165.12, symbol CJT on Toronto, is a provider of time-sensitive, premium overnight air cargo services across North America. Its fleet of 31 cargo aircraft currently moves more than 25 million pounds of cargo every week. The company has three main segments: it operates a domestic air cargo network between 16 major Canadian cities; it provides dedicated aircraft to customers on an aircraft, crew, maintenance and insurance (“ACMI”) basis, operating between points in Canada, the U.S., Mexico and Europe; and it operates scheduled international routes for multiple cargo customers between the U.S. and Bermuda, between Canada, the U.K. and Germany; and between Canada and Mexico. Cargojet has now entered into a long-term agreement with DHL Network Operations (USA) Inc., a division of Germany’s giant Deutsche Post AG. The agreement will see Mississauga, Ontario-based Cargojet provide DHL with a range of services across Europe, the Americas, and Asia. The term of the agreement is initially for five years, with a two-year extension option. Cargojet…