Oct. 21, 2011, 1:36 PMDespite a weak quarter and planned restructuring, USA Truck (USAK -2%) declines to meet with larger rival Celadon (CGI +1%) to discuss a merger. It is not known whether Celadon will now go directly to shareholders with an offer. Last week, CGI reported a 6.29% stake in USAK and requested a meeting to discuss a possible association. | Comment!
Oct. 11, 2011, 3:41 PMUSA Truck (USAK +20.5%) responds to Celadon's (CGI +4.8%) SEC filing in connection to an acquisition bid for the truckload carrier: "Our board of directors will evaluate Celadon's 13D filing in due course." Possible translation: With our stock down 25% YTD, we are thrilled with the offer. | Comment!
Oct. 11, 2011, 3:17 PMTrucker Celadon Group (CGI +4.8%) reports a 6.29% stake in USA Truck (USAK +20.2%), and says it's interested in buying its smaller rival. In an SEC filing, Celadon said it recently asked to meet USAK management to discuss a possible association between the companies, potentially including a combination of the two. | Comment!
CGI vs. ETF Alternatives
Celadon Group Inc, through its subsidiaries, provides truckload transportation services between United States, Canada and Mexico. It offers services such as long-haul, regional, dedicated, less-than-truckload, intermodal and logistics services.
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