Landair buyout completed

Landair Corp. chairman & CEO Scott Niswonger and president & COO John Tweed officially have finalized their long-planned acquisition of the company. Niswonger and Tweed, who were the company's largest shareholders, bought out Greeneville, TN-based Landair for $13 a share late last week. Niswonger and Tweed formed Landair Acquisition Corp. in order to proceed with the purchase, and they expect to complete

Sean Kilcarr

Jan. 28, 2003

Landair Corp. chairman & CEO Scott Niswonger and president & COO John Tweed officially have finalized their long-planned acquisition of the company.

Niswonger and Tweed, who were the company's largest shareholders, bought out Greeneville, TN-based Landair for $13 a share late last week.

Niswonger and Tweed formed Landair Acquisition Corp. in order to proceed with the purchase, and they expect to complete a short-form merger in which Landair will be merged with and into Landair Acquisition.

As part of the merger, each of the remaining publicly held Landair shares would be converted into $13.00 per share in cash, without interest. The merger is expected to become official on February 28.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.