High Road Completes Cash Tender Offer for KLLM
July 07, 2000
High Road Acquisition Corp. has announced the purchase of nearly 83% of KLLM’s outstanding shares with a tender offer of $8.05 per share.
Last month, High Road, made up of KLLM Chief Executive Jack Liles and WorldCom President Bernard Ebbers, began the tender offer in its take-over of KLLM. High Road’s offer beat out an attempt by Springfield, Mo.-based Prime Inc. president and KLLM shareholder Robert E. Low to take over KLLM at a tender offer of $7.75 per share.
High Road will provide a subsequent offering period of three business days that began on Friday and will end July 11 with the cash offer remaining at the same price of $8.05 per share.