Knight attempting hostile takeover of USA Truck

"Yes", and they also acquired a butt load of inferior wind shied wipers that will last about half of a storm. I asked the dispatcher if some bonehead screwed up a load of them. He said "how did you know?"

 

Sounds like it's getting serious now. lol just got the message from the CEO about engaging attorneys to fight off knight from a takeover. Dang.

 

If you want to work for them, I'm sure they will accept your application. I'm glad USA is standing firm and continue to buy stock as I can. I still feel its at a good price and will go past $12 soon.

 

Well where the heck did you get the idea I wanted to go work for them? Do you always make crap up as you go?

 

My bad then I guess. It sounded like you were unhappy USA was protecting their position when you said Dang. What else would it be there for?

 

It wont work. Knight has some powerful attorneys, and the fact that USA stockholders supports Knights plan. USA can't even afford an attorney. They are BROKE. It seems that u guys can' t understand that. But honestly speaking... I hope Knight leaves USA alone because we are very profitable now and we're abour to hit the 1 billion mark soon. We really don't need to buy USA and their problems, and their drivers that can't drive. There's a video of one of your drivers tearing the truck up trying to turn around because of a low bridge. That's another loss for the company. Money that the company doesn't have. I say let USA fold on their own.

 

Any competent board of any corporation would hire attorneys to advise them about a takeover. Welcomed or not. It is basic CYA to make sure that the takeover target shareholders get the best deal. The fighting the takeover is pure posturing. There are very few hostile takeovers. The deal was done over a few Martinis a couple months ago. The kabuki theater of the takeover is to pad resumes of the executives who are not going to stay on after the takeover so they can tell their next employer how much value they derived from the takeover for the shareholders of USA trucking by Knight. Any real fight is for crumbs. If a full out brawl does break out it because someone tried to pull a fast one in the deal.

After spending 30 years in IT before going into trucking and being involved with information exchange from various systems (P&L, Payroll, Receivables) on takeover targets on both sides of the takeover equation I can tell you from experience. In the trenches a takeover is messy and acrimonious but in the C level suites it is all "fait accompli".

 

Finally some body with some intelligence and experience weighs in. Good post vanapagan. Thank you.

 

Well...sorry to say...you wont be working for usa truck very much longer...Here's why....

Knight Transportation (No. 25 on CCJ‘s Top 250) made an attempt last week to buy the struggling USA Truck (No. 44 on CCJ‘s Top 250), which the USA board rejected.

Knight, however, has said its shareholders are still interested in purchasing the company at its standing cash offer of $9 a share. This week, Knight disclosed it had increased its ownership of USA Truck’s outstanding shares from 8 percent to 11.3 percent.




In a statement last week, Knight said it was “ready and willing” to move forward with the transaction, and the proposed value of its transaction was $242 million.


USA Truck has yet to fully recover from the industry downturn from the 2008-2009 recession, and ongoing turnaround efforts have yet to yield consistent profits.


Knight’s per-share offer was 39 percent higher than USA Truck’s closing price on Sept. 25.

USA, however, said the proposal and a Knight statement were a “disappointment.” Knight, too, said the rejection was a disappointment and said it is “prepared to take the necessary steps to make this combination a reality.”

http://www.overdriveonline.com/knig...ail&utm_term=0_de09ecb18a-ee0fac599d-38370369

 

Nothing new there. Read the same statements elsewhere a couple days ago. Doesn't mean much, just another I'm bigger than you press release.
The bottom line is, time will tell.