Knight Transportation Offers to Acquire USA Truck — Update
In a landslide. Enough with the criticism of his high run support and no complete games. I’ll take the guy who’s 20-3 with a 3.00 ERA, who has pitched 2071/3 innings, lasting at least six innings in 27 of 31 starts. You can’t win 20 games unless you constantly put your team in position to win. *** Clayton Kershaw leads the league with a ridiculous 1.88 ERA, in strikeouts with 224, and a 0.92 WHIP (walks plus hits per innings pitched). (Photo: Robert Leifheit, USA TODAY Sports) NL CY YOUNG The numbers say: Clayton Kershaw, Los Angeles Dodgers. He leads the league with a ridiculous 1.88 ERA, in strikeouts with 224, and a 0.92 WHIP (walks plus hits per innings pitched). The standings say: Craig Kimbrel, Atlanta Braves. He has saved a career-high 49 games with a 1.27 ERA and 0.91 WHIP. What I say: Kershaw. In a unanimous vote. He’s also the first pitcher to lead the NL in ERA for three consecutive seasons since a fellow named Greg Maddux.
September 26, 2013, 7:15 p.m. ET Knight Transportation Offers to Acquire USA Truck — Update (Updates with USA Truck confirmation, share prices) By Tess Stynes Knight Transportation Inc. (KNX) made public its offer to acquire USA Truck Inc. (USAK) in a deal that values the company at about $95 million and aims to enhance Knight’s position as a provider of multiple truckload transportation services in North America. Knight is offering $9 a share, a 39% premium to USA Truck’s close on Wednesday and a level the stock last reached in February 2012. USA Truck shares closed up 36% at $8.80 on Thursday. Knight said it has held talks with the company about the proposed deal, and it was rejected. Knight also said it would be prepared to modestly increase its proposed purchase price if determined necessary during the due diligence process. USA Truck confirmed the talks in a press release. The company said it had determined that Knight’s offer “substantially undervalues USA Truck and is not in the best interests of USA Truck and its shareholders.” The total value of the proposed deal is estimated at $242 million, including the assumption of about $147 million in debt. Knight currently owns about 8% of Arkansas-based USA Truck’s outstanding shares. “Knight and USA Truck operate in complementary service lines, and this proposed transaction would create an operationally and financially stronger transportation company that is better positioned to deliver value for all of our stakeholders,” Knight Transportation Chairman and Chief Executive Kevin Knight said.