Move slams brakes on $15m Fluidex deal

Fluidex said to have "reneged' on the terms of the transaction. (Image: Fluidex)

Tue, 20 Sep 2022

Move Logistics has walked away from its deal with private bulk transport company Fluidex Transport after shareholder Tony Galbraith "reneged" on the $15.2 million transaction.Move's executive director, Chris Dunphy, said the transport and logistics firm opted to terminate the sale and purchase agreement after the vendor sought better terms.The transaction – announced less than a month ago on Aug 24 – included an upfront payment of $7m by the end of October, with the cash/shares balance due in July 2024.It was considere...

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