Landair hires buy-out advisors

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

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.

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.