Coastal Calls Off Sale of ANR: Houston-based...
From Times Staff and Wire Reports
Coastal Calls Off Sale of ANR: Houston-based Coastal Corp., an energy holding company, has halted its previously announced sale of ANR Freight Systems Inc. to Transcon Inc. because, the parties were unable “to work out a satisfactory agreement,” a spokesman said. The two firms signed a letter of intent Dec. 7 for the proposed sale, but no price was established. Coastal officials said they are still seeking a qualified buyer. The Golden, Colo.-based trucking company, which was acquired as part of a merger, does not fit into Coastal’s long-range strategic plans as an oil company.
