With the acquisition, Penske adds about 3,400 tractors, trucks and trailers to its existing fleet.
Penske is now integrating Bright's facilities, staff, vehicles, and processes into its existing network. Challenger Capital Group acted as financial advisors in the transaction.
Universal Truckload Files Shelf Registration With SEC
Universal Truckload Services, Warren, Mich., has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission, which allows the company to sell one or more shares of its common stock, preferred stock, rights and warrants
up to a total aggregate offering amount of $100 million. The securities will be offered at prices and on terms to be determined at the time of any such offering.
In addition, under the shelf registration, the company's chairman, Matthew T. Moroun, and Director Manuel J. Moroun, who together are controlling stockholders of the company, may offer for resale to the public from time to time in one or more offerings up to about 6.1 million secondary shares of the company's common stock owned by them at prices and on terms to be determined at the time of any such offering.
At the moment, neither the company nor the Morouns intend to offer any of the securities.