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 previously reported and commented on trends affecting the many different strata of the trucking industry. Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.