USA Truck Narrows 3Q Loss As Revenue Rises 13.5 Percent

by Lance Turner  on Thursday, Oct. 17, 2013 8:34 am  

John Simone, president and CEO of USA Truck Inc. of Van Buren.

"Given that our all-cash premium proposal delivers value that is superior, immediate and more certain than USA Truck's risky stand-alone plan, we believe USA Truck's board should withdraw its lawsuit," Knight said.

Knight's USA Truck holdings are quickly approaching 15 percent, where USA Truck's "poison pill" shareholders' rights plan, adopted last year, will take effect.

Under the plan, if a company crosses the 15 percent ownership threshold, other USA Truck shareholders will be able to purchase an additional $24 worth of USA Truck shares at a 50 percent discount.

USA Truck has said the plan is designed to protect the company and its shareholders from an unwanted takeover. 

 

 

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