Landair buyout completed

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
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 reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations 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.

Sponsored Recommendations

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

Stop Sweating Temperature Excursions

Advanced chemical indicators give you the peace of mind that comes from reliable insights into your supply chains. Compromised shipments can be identified the moment they arrive...

How Electric Vehicles Help You Prolong the Life of Your Fleet

Before adopting electric vehicles for commercial/government fleets, prioritize cost inquiries. Maintenance is essential; understand the upkeep of EV fleets. Here’s what you need...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!