|
|
News Breaks | | | | August 3, 2012 | | 16:02 EDT |  | RRTS | Roadrunner acquires R&M Transportation and Sortino Transportation
Roadrunner Transportation Systems (RRTS), announced that it has acquired substantially all of the operating assets and business of R&M Transportation and all of the outstanding stock of Sortino Transportation, providers of truckload services based in Omaha, Nebraska, for approximately $24.4M, plus an earn-out capped at $5M. R&M and Sortino transport primarily refrigerated product throughout the United States utilizing a combination of independent contractors and a fleet of company-owned trailers. Roadrunner also announced today that it has amended and expanded its credit facility to $295M to provide enhanced liquidity and future growth capital. Under the terms of the amended credit facility, Roadrunner modified limits and terms and obtained a reduction in interest rates of approximately 100 basis points. | |
|
News For RRTS From The Last 14 Days Check below for free stories on RRTS the last two weeks. |
|
|
| May 9, 2013 | | 10:34 EDT | | RRTS | Arkansas Best rises after peer expresses merger interest
Shares of freight transportation company Arkansas Best (ABFS) rose in early trading after another transportation service provider, YRC Worldwide (YRCW), expressed interest in a merger. WHAT'S NEW: Early this morning, Arkansas Best disclosed in a regulatory filing that YRC Worldwide approached it in late March to express interest in exploring an acquisition of ABF Freight System, Arkansas Best’s largest subsidiary. Arkansas Best indicated that considering a transaction with YRC was not appropriate at that time and did not engage in any subsequent discussions with YRC, the company stated. YRC Worldwide then confirmed that it had made a preliminary proposal to acquire Arkansas Best and its CEO James Welch said, "Our board and management believed then and believes now that the combination of Arkansas Best and YRCW would be in the best interests of all employees, customers and shareholders of both companies." PRICE ACTION: In mid-morning trading, Arkansas Best shares rose 8.5% to $16.67, while YRC Worldwide advanced 1% to $14.10. OTHERS TO WATCH: Roadrunner Transportation Systems (RRTS) and Con-way (CNW) also provide transportation and logistics services. | |
|
|
|
|
|
|
