Millis buyout..

Discussion in 'Millis' started by oneroad, Sep 15, 2019.

  1. oneroad

    oneroad Light Load Member

    Joined:
    Apr 3, 2015
    Messages:
    90
    Thanks Received:
    30
    Location:
    WILLIAMSBURG,ky
    0
    Tick tock...
     
  2. speedyk

    speedyk Road Train Member

    Joined:
    Apr 8, 2015
    Messages:
    1,837
    Thanks Received:
    2,470
    0
    They can change the name to Heart-lis.
     
    SHOJim Thanks this.
  3. Midlife Trucker

    Midlife Trucker Light Load Member

    Joined:
    Dec 3, 2011
    Messages:
    281
    Thanks Received:
    288
    Location:
    Shady Dale, GA
    0
    I guess that I will be seeing those changes, first hand. That's where I'm headed.
     
  4. keen98

    keen98 Road Train Member

    Joined:
    Jul 19, 2014
    Messages:
    2,716
    Thanks Received:
    3,398
    0
    You're headed to Millis? Going thru the school?
     
  5. bryan21384

    bryan21384 Road Train Member

    Joined:
    Sep 18, 2009
    Messages:
    14,839
    Thanks Received:
    32,094
    Location:
    Memphis, TN
    0
    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
     
    bzinger Thanks this.
  6. Midlife Trucker

    Midlife Trucker Light Load Member

    Joined:
    Dec 3, 2011
    Messages:
    281
    Thanks Received:
    288
    Location:
    Shady Dale, GA
    0
    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.
     
  7. Opus

    Opus Road Train Member

    Joined:
    Dec 18, 2011
    Messages:
    19,196
    Thanks Received:
    119,539
    Location:
    South GA
    0
    Millis wasn't in debt.....or not a lot anyway.
    Millis was a family owned company that ran out of family to run it.
     
    JOHNQPUBLIC and bzinger Thank this.
  8. Midlife Trucker

    Midlife Trucker Light Load Member

    Joined:
    Dec 3, 2011
    Messages:
    281
    Thanks Received:
    288
    Location:
    Shady Dale, GA
    0
    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?
     
  9. Opus

    Opus Road Train Member

    Joined:
    Dec 18, 2011
    Messages:
    19,196
    Thanks Received:
    119,539
    Location:
    South GA
    0
    Read the press releases
     
    bzinger Thanks this.
  10. Midlife Trucker

    Midlife Trucker Light Load Member

    Joined:
    Dec 3, 2011
    Messages:
    281
    Thanks Received:
    288
    Location:
    Shady Dale, GA
    0
    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.
     
    Aamcotrans Thanks this.