U.S. Xpress reviewing buyout proposal
Chattanooga-based truckload carrier U.S. Xpress Enterprises Inc. has hired Wachovia Securities to advise a committee of outside directors on a buyout offer from its co-chairmen of the board.
They will assist the directors in evaluating a proposed unsolicited tender offer of $20 per share by Mountain Lake Acquisition Co., which is owned by co-chairmen Patrick E. Quinn, who is also president, and Max L. Fuller, chief executive officer.
U.S. Xpress reviewing buyout proposal
