Emery Air Freight won the battle for Purolator.
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Wilton, Conn.-based Emery appeared to be the victor in a takeover battle for Basking Ridge, N.J.-based Purolator Courier. PC Acquisitions, controlled by eight Purolator executives and E. F. Hutton LBO Inc., a subsidiary of E. F. Hutton Group, said it was withdrawing. PC on March 1 had reached a deal with Purolator valued at $35 a share, or $268 million. Emery announced April 1 that it was prepared to acquire Purolator in a deal valued at about $306 million, or $40 a share.
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