Echo Global Logistics Agrees To Be Taken Private By Jordan Co. In $1.3 Bln Deal; Stock Surges

(RTTNews) - Echo Global Logistics Inc. (ECHO), a provider of technology-enabled transportation and supply chain management services, agreed to be acquired by funds managed by The Jordan Company, L.P., a global private equity firm, for an equity value of about $1.3 billion. Through this transaction, Echo will become a private company.

In Friday pre-market trade, ECHO was trading at $47.82 up $16.50 or 52.68%.

As per the terms of the deal, Echo stockholders will receive $48.25 per share in cash, which represents a premium of about 54% over Echo's closing share price on September 9, 2021.

The transaction is expected to be completed in the fourth quarter of 2021.