Heartland express buys interstate distributor co

Discussion in 'Truckers News' started by drvrtech77, Jul 6, 2017.

  1. drvrtech77

    drvrtech77 Road Train Member

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    Heartland Express Inc - transaction enterprise value of approximately $113 million

    * Heartland Express Inc - heartland acquired 100pct of IDC's outstanding stock from Saltchuk for cash.

    * Heartland Express Inc - heartland expects to pay off all of IDC's debt after deal closing.

    * Heartland Express Inc - transaction was funded through $94 million of heartland's existing cash, plus assumption of approximately $23 million of IDC's debt

    * Heartland Express Inc - based on expected synergies, transaction is expected to be accretive to heartland's earnings in first full quarter of operations

    * Heartland Express Inc - acquired 100pct of outstanding stock of Interstate Distributer Co Of Tacoma, Washington from Saltchuk Resources Inc Source text for Eikon: Further company coverage:

    BRIEF-Heartland Express acquires Interstate Distributor Co
     
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  3. Scottyboy

    Scottyboy Light Load Member

    Wow-interesting drvtech77.
    See,when you pay your drivers peanuts for years-you wind up w/94 million in existing cash.
    Simply amazing!
     
  4. haz-matguru

    haz-matguru Road Train Member

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    Wow the Gordon guys were complaining when they got bought out. And now the grab interstate. I bet there won't be anyone dispatching themselves anymore
     
  5. bzinger

    bzinger Road Train Member

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    The Werner of Iowa .
     
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  6. CaptainDaveG

    CaptainDaveG Road Train Member

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    Heartland paid CASH for them. My god.


    Be Safe Out There


    Captain Dave
     
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  7. Radman

    Radman Road Train Member

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    First they bought Gordon now Interstate. Wow.
     
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