(Reuters) - June 22 - A management-led buyout firm said it intends to start a $20 per share tender offer for all the class A common stock of truckload carrier U.S. Xpress Enterprises Inc. .
The offer price is about 41 percent premium to the stock's closing price of $14.23 on the Nasdaq Thursday, the buyout firm, Mountain Lake Acquisition Co., said on behalf of U.S. Xpress Chief Executive Max Fuller and President Patrick Quinn. Shares of the company rose over 32 percent to $18.83 in after-market electronic trade Friday. They had earlier closed at $14.20 on the Nasdaq.
Read more at Reuters.com Mergers News
The offer price is about 41 percent premium to the stock's closing price of $14.23 on the Nasdaq Thursday, the buyout firm, Mountain Lake Acquisition Co., said on behalf of U.S. Xpress Chief Executive Max Fuller and President Patrick Quinn. Shares of the company rose over 32 percent to $18.83 in after-market electronic trade Friday. They had earlier closed at $14.20 on the Nasdaq.
Read more at Reuters.com Mergers News
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