USA TRUCK, INC.

(USAK)
  Report
Delayed Nasdaq  -  04:00 2022-08-09 pm EDT
31.16 USD   -0.13%
08/08USA TRUCK INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)
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08/08USA Truck, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
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07/15USA TRUCK INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA : Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of USA Truck, Inc. - USAK
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Schenker, Inc. (DB Schenker) entered into an agreement and plan of merger to acquire USA Truck, Inc. from Dimensional Fund Advisors LP, Grace & White, Inc., The Estate Of James B. Speed, Magnetar Financial LLC and others for approximately $290 million.

06/24/2022 EDT

Schenker, Inc. (DB Schenker) entered into an agreement and plan of merger to acquire USA Truck, Inc. (NasdaqGS:USAK) (Company) from Dimensional Fund Advisors LP, Grace & White, Inc., The Estate Of James B. Speed, Magnetar Financial LLC and others for approximately $290 million on June 23, 2022. Schenker will pay $31.72 per USA Truck share in cash as a consideration. Upon completion of the transaction, USA Truck will become a private company and delist from NASDAQ Global Select Market. The Merger Agreement provides that, in certain circumstances, including the termination of the Merger Agreement, the Company would be required to pay DB Schenker a termination fee of $10,000,000. Post-closing, USA Truck will be led by industry veteran Joe Jaska, DB Schenker's Executive Vice President Land Transport, Americas Region. The closing of the Merger is subject to various conditions, including (i) the adoption of the Merger Agreement by holders of two-thirds of the issued and outstanding shares of company; (ii) the absence of any outstanding law, regulation, or order enacted, promulgated, issued, entered, amended or enforced by any governmental entity that restrains, enjoins or otherwise prohibits the consummation of the Merger; (iii) the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, (the “ HSR Act ”); (iv) the Committee on Foreign Investment in the United States (CFIUS) Approval; and (v) the accuracy of the representations and warranties contained in the Merger Agreement, subject to customary materiality qualifications, as of the date of the Merger Agreement and as of the date of the closing of the Merger, and compliance in all material respects with the covenants and agreements contained in the Merger Agreement. The transaction, which has been unanimously approved by USA Truck's Board of Directors, is subject to certain regulatory reviews and approvals and the satisfaction of other customary closing conditions. The transaction is not subject to any financing condition. USA Truck's Board of Directors recommended that the Company's stockholders vote for the adoption of the Merger Agreement. The Board of Directors of Schenker, Inc. also approved the merger. The transaction has been approved by DB Schenker's stockholder. Transaction is expected to complete by the end of 2022. Evercore Group L.L.C. acted as financial advisor and Heidi Hornung-Scherr and Gregory C. Lawhon of Scudder Law Firm, PC LLO acted as legal advisors to USA Truck, Inc. Morgan Stanley & Co. International plc acted as financial advisor and Robert Matthew Katz, Tobias Larisch and Max Schleusener of Latham & Watkins LLP and Latham & Watkins Schön Nolte acted as legal advisors to Schenker, Inc. Evercore Group L.L.C. acted as fairness opinion provider to the Board of USA Truck, Inc. MacKenzie Partners, Inc. has been retained to assist with the solicitation of proxies. MacKenzie Partners, Inc. will be paid approximately $25,000 and will be reimbursed for specified out-of-pocket expenses for these and other advisory services.


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All news about USA TRUCK, INC.
08/08USA TRUCK INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS ..
AQ
08/08USA Truck, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended Ju..
CI
07/15USA TRUCK INVESTOR ALERT BY THE FORM : Kahn Swick & Foti, LLC Investigates Adequacy of Pri..
BU
06/26USA TRUCK INVESTOR ALERT BY THE FORM : Kahn Swick & Foti, LLC Investigates Adequacy of Pri..
BU
06/24Top Midday Gainers
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06/24USA Truck Shares Soar Following Agreement to Be Acquired by DB Schenker in Deal Valued ..
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06/24USA Truck to Be Acquired by DB Schenker in Deal Valued at $435 Million
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06/24USA TRUCK : DB Schenker and USA Truck to Combine and Create Premier North American Transpo..
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06/24USA TRUCK : DB Schenker and USA Truck to Combine and Create Premier North American Transpo..
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06/24USA TRUCK INC : Entry into a Material Definitive Agreement, Other Events, Financial Statem..
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More news
Financials (USD)
Sales 2022 823 M - -
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 7,56x
Yield 2022 -
Capitalization 265 M 265 M -
Capi. / Sales 2022 0,32x
Capi. / Sales 2023 0,33x
Nbr of Employees 2 100
Free-Float 59,5%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 31,16 $
Average target price 31,72 $
Spread / Average Target 1,80%
EPS Revisions
Managers and Directors
James D. Reed President, Chief Executive Officer & Director
Zachary B. King Chief Financial Officer & Senior VP
Alexander David Greene Chairman
Kimberly K. Littlejohn Chief Information Officer & Senior VP
George T. Henry Chief Operating Officer & Executive Vice President
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