Amid a general slump on Wall Street, James R. Crane, chairman of
Texas-based forwarder Eagle USA Airfreight, has scrapped plans for a
secondary public stock offering.
Crane had filed registration papers in July to sell 1.38 million of his
8.26 million Eagle USA shares, which have been trading at around $36 per share.
Eagle USA would not have received any proceeds from the offering and will
incur any expenses from terminating the deal.
EAGLE USA CHAIRMAN PULLS STOCK OFFERING
EAGLE USA CHAIRMAN PULLS STOCK OFFERING
