News

Landair hires buy-out advisors

Dec. 4, 2002

Truckload carrier Landair Corp. has hired McDonald Investments and Morgan Keegan & Co. as financial advisors to help it review a buy-out proposal tendered by two of its executives. Chairman & CEO Scott Niswonger and president & COO John Tweed proposed a cash buyout of Greeneville, TN-based Landair for $13 a share, though they note the deal is contingent on their ability to get the necessary financing.

Sean Kilcarr

Truckload carrier Landair Corp. has hired McDonald Investments and Morgan Keegan & Co. as financial advisors to help it review a buy-out proposal tendered by two of its executives.

Chairman & CEO Scott Niswonger and president & COO John Tweed proposed a cash buyout of Greeneville, TN-based Landair for $13 a share, though they note the deal is contingent on their ability to get the necessary financing.

Niswonger and Tweed are currently two of the carrier's largest shareholders, owning 58% and 13% of Landair's stock, respectively.

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.