UPDATE 1-Greenbriar Equity Group to buy Dynamex for $210 mln

Fri Oct 1, 2010 5:49pm EDT

* Offer price of $21.25/shr a 39 pct premium

* Dynamex to go private after deal closes

* Deal to close in Q4 2010 or Q1 2011

* Dynamex shares up 17.5 pct in extended trade

Oct 1 (Reuters) - Logistics services provider Dynamex Inc DDMX.O said transportation and logistics focused private equity firm Greenbriar Equity Group agreed to acquire it for about $210 million in cash.

Dynamex provides both scheduled and on-demand delivery of time-sensitive items such as medical supplies, financial documents, and office products.

The offer price of $21.25 a share is a 39 percent premium to Dynamex's Friday close of $15.31.

Following completion of the deal, Dynamex will no longer trade publicly and will be wholly owned by affiliates of Greenbriar, the company said.

The transaction is expected to close in the fourth calendar quarter of 2010 or the first calendar quarter of 2011, Dynamex said.

Stephens Inc acted as financial adviser, and Weil, Gotshal & Manges LLP acted as legal adviser, to Dynamex, the company said.

Shares of Dynamex rose 17.5 percent to $18 in trading after the bell. They closed at $15.31 Friday on Nasdaq. They have risen 11 percent in less than a month. (Reporting by Divya Sharma in Bangalore; Editing by Jarshad Kakkrakandy)

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