UPS HAS announced that it has completed the acquisition of Nasdaq-registered Overnite Corporation for approximately $1.25bn in an all-cash transacton. Richmond, Viginia, based Overnite reported net income of $63.3 million in 2004 on revenue of $1.65 billion. The carrier serves more than 60,000 customers in the less-than-truckload (LTL) and truckload (TL) segments. It has operations in the US, Canada, Mexico, Puerto Rico, Guam and the US Virgin Islands.
