Emery will make an offer for Purolator Courier.

Emery Air Freight said it will make the $304-million tender offer for Purolator today, topping by $36 million a proposed leveraged buyout that would have taken the company private. Emery said it would offer $40 a share for 83% of Purolator’s stock and later would offer $40 a share of junior subordinated debentures for each remaining share. On March 1, Purolator agreed to be purchased for $35 a share in a leveraged buyout led by eight Purolator executives.