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MLLGF - Mullen Group rallies on APPS Transport Group's acquisition
Mullen Group Ltd
Mullen Group ([[MLLGF]] +11.5%) to acquire Mississauga based APPS Transport Group and the businesses: APPS Cartage and APPS Cargo Terminals.APPS will operate within Mullen Group's Less-Than-Truckload segment and it is expected to generate annualized revenue of ~$90M and OIBDA margins consistent with the LTL Segment.Mullen Group will be funding the transaction from existing cash and credit lines.The transaction is scheduled to close on June 1, 2021.