The Pritzker Organization LLC is buying logistics provider TMS International Corp. (NYSE: TMS) for $1 billion in cash.

Under the terms of the deal, Pritzker will pay $17.50 per TMS share. The purchase price also includes refinanced third-party debt. TMS’ stock closed at $15.57 on Aug. 23, the last day of trading before the deal was announced. The stock was trading at $17.37 on Aug. 26, after the transaction was announced.

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