[Stay on top of transportation news: .]
U.S. Xpress ‘Neutral’ on Buyout Offer
U.S. Xpress Enterprises said Wednesday today that its board “is expressing no opinion and is remaining neutral” about an acquisition offer to take the truckload carrier private for $20.10 a share.
A special committee of the board is urging the company’s stockholders to make their own decisions owhether to tender their and accept the offer, the company said in a statement.
U.S. Xpress Co-chairmen Patrick Quinn and Max Fuller earlier this month boosted their buyout offer to take the company private by 10 cents a share, to the $20.10 per share level.
U.S. Xpress is ranked No. 18 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.