Roadrunner Transportation Systems Inc. in Illinois has announced it will spin-off Ascent Global Logistics to provide a stock dividend to its shareholders.
In an effort to maximize growth, Roadrunner’s Ascent Global Logistics Inc. is now a separate operation encompassing Ascent Domestic, Ascent International, and Ascent On-Demand. Combined, Ascent Global is set to be headquartered in Belleville, effective in August.
The spin-off is subject to final approval by the Roadrunner board of directors and tax and legal considerations. Expected to be complete in August, the proposal would create two independent companies: Roadrunner and privately held Ascent.
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