ABX Holdings, Inc. (ABXA) Announces Reorganization and Plans to Acquire Cargo Holdings International
ABX Holdings, Inc. (ABXA) announced in December 2007 that it completed its previously announced holding company reorganization and plan to acquire Cargo Holdings International, Inc. (CHI), a privately held provider of outsourced air cargo services based in Orlando, FL for $332M in cash and common shares of ABX Holdings, its newly formed parent company. Immediately prior to the closing of the acquisition of CHI, ABX Air created a new holding company structure, with ABX Air becoming a wholly owned subsidiary of ABX Holdings, Inc. As a result, shareholders of ABX Air became shareholders of ABX Holdings. As part of this…