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USX.US

U.S. Xpress Enterprises, Inc. (USX) M&A Case

On March 21, 2023, Knight-Swift Transportation Holdings Inc. (NYSE: KNX) and U.S. Xpress Enterprises, Inc. (NYSE: USX) announced an agreement under which Knight-Swift will acquire U.S. Xpress for a total enterprise value of approximately $808 million, excluding transaction costs.
  • Under the terms of the agreement, $USX shareholders are expected to receive $6.15 in cash per share they own.
  • The transaction has been unanimously approved by the Board of Directors of Knight-Swift and a Special Committee of the independent directors of the U.S. Xpress Board of Directors.
  • It is expected to close late in the second quarter or early third quarter of 2023, subject to customary closing conditions.
Investors of $USX may have reasons to suspect that the pricing terms of the M&A transaction with $KNX are unfair and that the Company BoD breached fiduciary duties to shareholders.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Malpractice
Breach of Fiduciary duty
Omissions
Suspected Party
Directors
Management
Shareholder
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
21 March 2023
Collecting participants…
Created by Stan Vick, Scout

US Xpress Enterprises Inc

U.S. Xpress Enterprises, Inc. operates as an asset-based truckload carrier primarily in the United States. It operates through two segments, Truckload and Brokerage. The Truckload segment offers ov...

    Ticker
    USX.US
    ISIN
    US90338N2027
    CIK
    923571
    Sector
    Industrials
    Industry
    Trucking
    Country
    USA
    Address
    4080 Jenkins Road, Chattanooga, TN, United States, 37421