Knight attempting hostile takeover of USA Truck

USA rejected the offer. Sent us all a message confirming it.

http://www.nwaonline.com/news/2013/sep/26/usa-truck-subject-acquisition-bid/?latest

 

Just got a Q/C message about it. Mr. Simone says that they previously looked at Nights offer and didn't think it was high enough. Seems to me that they considered it enough to at least take look at Nights offer, so they are willing to sell. So, untill someone makes a high enough offer we will just keep hearing all the bla bla bla about how we are the best and how we are going to turn the company around.

 

Since the stock price had already risen to 6.5 before todays attempt their offer of 9 wasn't enough to make me consider selling what stock I have. John Simone issued a statement to the drivers that at this time the company isn't interested because we are in a positive growth pattern. I agree with the position that the company is taking and I hope they continue with it.
I'm not interested in working for Knight but would consider it if the price was right.

 

I dont know about you guys but I don't want to work for none of them. I'm getting ready to go buy my own truck and they can all go jump in a lake for all I care.

 

I don't seem to remember Celadon offering a per share price. It was more going to be a merging than a buy out. USA truck snubbed it precisely because they didn't think it would be fair to the share holders.

 

The price is right. The mkt cap plus debt was about 215 mil. Knight offered 242 mil. So more than the companies current total enterprise value

 

Drivers need not worry about their jobs. They will probably all have the option to stay with Knight. Office personnel are the ones who may be out of jobs.

 

I wasn't taking about the stock price. But even if I was, I see a lot of potential to make much more if I just continue to wait. I will take some time, but my gut feeling is telling me the stock is going way past 9.

 

This is what you'd get if Knight took over. We pay our students that much almost.. Id bet there would be a lot of happy Knight drivers if USA bought them out instead..lol

 

USAK will report earnings next month. The results will determine the shareholder vote.