Landair hires buy-out advisors
Truckload carrier Landair Corp. has hired McDonald Investments and Morgan Keegan & Co. as financial advisors to help it review a buy-out proposal tendered by two of its executives.Chairman & CEO Scott Niswonger and president & COO John Tweed proposed a cash buyout of Greeneville, TN-based Landair for $13 a share, though they note the deal is contingent on their ability to get the necessary financing.
Niswonger and Tweed are currently two of the carrier's largest shareholders, owning 58% and 13% of Landair's stock, respectively.
