With 3.2 million shares of KLLM Transport in hand, High Road Acquisition Corp. is now in a position to take the newly acquired trucking company private.
The corporation, owned by Jack Liles, chief executive officer of KLLM, and Bernard Ebbers, CEO of WorldCom Inc., completed its tender offer valued at $26.5 million for the Richland, Va.-based company last week.
High Road offered $8.05 per share for each of KLLM's outstanding 4.2 million shares, or $33 million.
KLLM's board agreed to the deal after Robert Low, owner of Springfield, Mo.-based trucking company Prime Inc., withdrew his offer of $7.75 per share.
High Road now owns 97 percent of KLLM stock, combining the newly-acquired 3.2 million share and Liles' 689,123 shares.
High Road Closes Deal on KLLM
With 3.2 million shares of KLLM Transport in hand, High Road Acquisition Corp. is now in a position to take the newly acquired trucking company private
by Staff
July 21, 20001 min to read
More Drivers
Federal Proposal Would Allow Pell Grants for Shorter-Term Job Training
The Department of Labor plans to expand Pell Grant eligibility to some shorter workforce training programs, a move the American Trucking Associations said will help strengthen commercial driver training schools and diesel technician training programs.
Read More →
Owner-Operator Model Gets Boost as DOL Proposes 2024 Independent Contractor Definition Reversal
For an industry that has watched this issue go back and forth for years, the independent contractor proposal marks the latest swing in the regulatory pendulum.
Read More →
FMCSA Reinstates Field Warrior ELD to Registered Device List
One electronic logging device has been reinstated to the FMCSA's list of registered ELDs.
Read More →
How One Company is Using Smart Suspension Technology to Reduce Driver Injuries and Improve Retention
America’s Service Line adopted Link’s SmartValve and ROI Cabmate systems to address whole-body vibration, repetitive strain, and driver turnover. The trucking fleet is already seeing measurable results.
Read More →
CarriersEdge Announces 2026 Best Fleets to Drive For
The 18th annual contest recognizing the best workplaces for truck drivers sees changes to Top 20, Hall of Fame
Read More →
FMCSA Targets 550+ ‘Sham’ CDL Schools in Nationwide Sting Operation
The Federal Motor Carrier Safety Administration issued more than 550 notices of proposed removal to commercial driver training providers following a five-day nationwide enforcement sweep. Investigators cited unqualified instructors, improper training vehicles, and failure to meet federal and state requirements.
Read More →
DOT Alleges Illinois Issued Illegal Non-Domiciled CDLs
Illinois is the latest state targeted and threatened with the loss of highway funding by the U.S. Department of Transportation in its review of states' non-domiciled CDL issuance procedures. The state is pushing back.
Read More →FMCSA Locks in Non-Domiciled CDL Restrictions
After a legal pause last fall, FMCSA has finalized its rule limiting non-domiciled commercial driver's licenses. The agency says the change closes a safety gap, and its revised economic analysis suggests workforce effects will be more gradual than first thought.
Read More →
Trucker Path Names Top Truck Stops for 2026
Truck driver ratings reveal the best chain and independent truck stops in the country.
Read More →
Sponsored•February 1, 2026
Stop Watching Footage, Start Driving Results
6 intelligent dashcam tactics to improve safety and boost ROI
Read More →