Boyd Goes Private
Boyd Bros. Transportation, which touts itself as the only publicly traded "Pure Flatbed" company in the country, is going private.
The Clayton, Alabama-based company with 975 tractors and 1270 trailers, has signed a 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, who together own about 72% of the company’s common stock – to become a privately-held company.
Each shareholder will receive $7/share in a merger agreement unanimously voted upon by board members.
The merger is expected to be completed in March or April, company officials said.