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Engine Capital urges Vitran to commence sale process

Earlier today, Engine Capital issued a press release urging Vitran to commence sale process. Engine Capital states that Vitran should not remain a standalone company following sale of its U.S. LTL business. Engine Capital added that both market and recent $4.50 per share unsolicited proposal from TransForce significantly undervalue the company and added that Vitran could be worth more than $6.50 per share if proper value was assigned to company's real estate assets.