There definitely has been a lot of dialogue about the buyout, but Heartland has made a habit of buying fairly large companies in debt. Its slowly becoming a ritual. Maybe they'll buy Celadon out next
I am torn between TMC Transportation and Millis. It's a tough decision. I've been approved for both. I have a reservation for TMI in Cartersville for 10/21.
Millis wasn't in debt.....or not a lot anyway. Millis was a family owned company that ran out of family to run it.
How did you determine that Millis was not in, what you consider to be a lot of debt? Do you have some knowledge that hasn't been disclosed?
I have. No where does the press release give an amount of debt. Heartland doesn't have any debt and has some pretty deep cash reserves. It states that they are acquiring the company for $150 million and that includes the debt payoff, which will be paid off by December.
