Simon Declines Moyes Offer
May 23, 2000
Simon Transportation Services said yesterday that Richard D. Simon, chairman and chief executive officer, had rejected an offer made by Jerry Moyes to purchase shares of Simon Class A and Class B Common Stock at a price of $7.00 per share.
Simon also declined Moyes' request that Simon convert his Class B Common Stock into Class A Common Stock. However, the company said its Board of Directors would not stand in the way of Moyes' tender offer of $7.00 per share to the shareholders of the company for a period expiring August 31, 2000.