°®¶¹´«Ã½

Hess Corp. shareholders approved Chevron Corp.’s $53 billion takeover despite reservations among several prominent investors about a dispute with Exxon Mobil Corp. over a key asset.

John Hess is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.

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.

After a drop in merger and acquisition activity, analysts believe the market has turned a corner. Driven by uncertain economic conditions earlier this year, M&A has now started a rebound.

TFI International Inc. acquired tank transport specialist Vedder Transportation Group, the company said, in what was its ninth acquisition so far in 2023.

The trucking industry is facing merger and acquisition headwinds amid declining freight demand and rising interest rates, but deal buzz remains, experts said.

Technology-focused companies supporting the trucking and logistics sector have experienced a rise in merger and acquisition activity.

Trucking is continuing to see an active mergers and acquisitions market with several deals recently announced.

Mergers and acquisitions are off to their fastest start to a year ever in Canada, driven by a combination of cheap financing for buyers, high valuations for sellers and an improving economic outlook that’s encouraging companies to make major moves.