Knight Ups USA Truck Stake After Spurned Takeover Bid

Law360, New York (September 30, 2013, 10:56 AM EDT) -- Knight Transportation Inc. on Monday said it raised its stake in USA Truck Inc. past 11 percent, suggesting it would pursue a previously spurned $242 million takeover campaign for the company with or without the say-so of USA Truck management.

The disclosure comes after Knight last week went public with the rejected bid, worth $95 million plus the assumption of USA Truck's $147 million debt load. The suitor said it had tried to open discussions with USA Truck over the proposed deal, which would furnish a...
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