Knight Goes Public With Spurned $242M USA Truck Buyout Bid

Law360, New York (September 26, 2013, 12:12 PM EDT) -- Knight Transportation Inc. went public Thursday with its $242 million buyout offer for sputtering USA Truck Inc., forcing the takeover proposal into the spotlight after the target company earlier this month rejected the bid and shut down negotiations.

Phoenix-based Knight in a securities filing outlined its $9-per-share proposal — a 39 percent premium over USA Truck's Wednesday close and a 58 percent upgrade over the company's trading price Aug. 27, the day before Knight lobbed its bid. The offer values USA Truck's equity at $95 million,...
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