Boyd Bros. Transportation Going Private
Boyd Bros. Transportation Inc., Clayton, Ala., has signed a definitive merger agreement with BBT Acquisition Corp.
Boyd Bros. Transportation Inc., Clayton, Ala., has signed a definitive merger agreement with BBT Acquisition Corp.,
a company controlled by Dempsey Boyd, the founder of the company, Gail B. Cooper, the president and CEO, Frances S. Boyd and Ginger B. Tibbs. These principals currently own about 72% of the company’s common stuck
Under the terms of the merger agreement, stockholders of the company (other than BBT Inc. and its stockholders) will receive $7 per share, in cash. The transaction is structured as a forward merger in which BBT Inc. will merge into the company, with the company continuing as the surviving corporation.
As a result of the merger – expected to close in March or April -- the company will become a privately held company, and the registration of the company's common stock under the Securities Exchange Act of 1934 will terminate.
Boyd Bros. Transportation Inc. is one of the largest flatbed trucking companies in the United States. The company provides transportation services to high-volume, time-sensitive customers, primarily in the steel and building materials industries, and operates throughout most of the continental United States.
For more information, visit Boyd Bros. on the Internet at www.boydbros.com .
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