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Knight Transportation Inc Proposes To Acquire USA Truck Inc For $9.00 Per Share In Cash


Thursday, 26 Sep 2013 08:00am EDT 

Knight Transportation, Inc announced that it has proposed to acquire all of the outstanding shares of USA Truck, Inc for $9.00 per share in cash, valuing the equity of USA Truck at approximately $95 million. The total value of the proposed transaction is approximately $242 million, including USA Truck's approximately $147 million of net indebtedness. The proposal represents a significant of approximately 39% to USA Truck's closing price on September 25, 2013, the last trading day prior to this announcement; a premium of approximately 50% to USA Truck's average closing price for the ten trading days preceding this announcement; and a premium of approximately 58% to USA Truck' closing price on August 27, 2013, the last trading day prior to Knight`s August 28, 2013, proposal letter to USA Truck's Board of Directors. 

Company Quote

27.42
0.17 +0.62%
3:38pm EDT