Usa Truck Presents 30% Upside As The Target Of A Takeover

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(Scott Miller / Associated Press) By Jim Peltz October 4, 2013, 1:41 p.m. Major League Soccer on Friday suspended Galaxy Coach Bruce Arena for Sunday’s game against Chivas USA . The league’s disciplinary committee said the one-game suspension resulted from Arena leaving the coaching area when he was arguing a call near the end of the Galaxy’s 1-0 loss to the Timbers last Sunday in Portland. It appeared the Galaxy had tied the game in stoppage time on a header goal by Robbie Keane , but officials ruled that Keane was offside, sparking a vehement argument from Keane and Arena. After the Galaxy practiced Friday, Arena said “the best thing is to say no comment at this point” and “there will be a time and place for me to discuss that with the right people.” Dave Sarachan, the Galaxy’s associate head coach, is expected to guide the club Sunday when the Galaxy and Chivas USA meet for the third and final time this season in what’s known as the “Super Clasico” series. The two teams share StubHub Center in Carson as their home venue. The Galaxy is the home team for the game Sunday at 2 p.m. Sarachan said Arena’s suspension “doesn’t change” the Galaxy’s outlook. “We’ve had a great week of training and now it’s up to the guys. They’re well-prepared, we’ve assessed what we need to do against Chivas and now we’ll perform on Sunday.” ALSO:

(click to enlarge) Why KNX wants to do this deal For KNX, this represents an opportunity to expand its access into the high volume of the south at a reasonable price. While USAK does have some significant long-term debt and liabilities, about $147 million worth, had KNX been able to acquire the company for $95 million, it would have been a steal . Knight Transportation announced that it has proposed to acquire all of the outstanding shares of USA Truck for $9.00 per share in cash, valuing the equity of USA Truck at approximately $95M. The total value of the proposed transaction is approximately $242M, including USA Truck’s approximately $147M of outstanding net indebtedness. At the same time, I see a lot of overlap in the service areas that would be redundant. Why USAK rebuffed the attempt USAK believes the company is severely undervalued right now. With assets of $337 million, owner equity of $105 million, and liabilities of $147 million, the board feels this was a low ball offer : In light of our previous discussions with Knight, we are disappointed not only that Knight decided to make its proposal public this morning, but did so in a misleading manner. In fact, on September 6, 2013, the Company responded to Knight’s letter dated August 28, 2013 informing Knight that the Board of Directors unanimously viewed Knight’s $9.00 per share proposal as inadequate, as it substantially undervalued USA Truck in light of the initiatives undertaken by our new management team. Projections Although USAK stated they feel the deal severely undervalues the company, they didn’t exactly state a deal was out of the question. KNX has stated the company wants to do the deal and is willing to come back to the table with another offer : Knight Chief Executive Officer Kevin Knight said he’d be prepared to “modestly increase” a $9 per share proposed offer price if additional value is identified in due diligence, according to an Aug. 28 letter. Knight, which had sought a response by Sept. 6., said an acquisition would bolster USA Truck’s turnaround plan and help reverse eight consecutive quarters of net losses.

Mike Tyson scores another TKO, this one over USA Boxing president in Olympic dispute

Butler, the president of USA Boxing, Tyson released an open letter of his own that seemed to give him the upper hand. At issue is the signing of highly touted super lightweight Erickson Lubin on Tuesday on his 18th birthday by the promotional company, Iron Mike Promotions, that bears the Hall of Famer’s name. View gallery . USA Boxing president Dr. Charles Butler (in black to far right) Butler released a letter addressed to Tyson to the media on Tuesday, pleading with him to not sign any more of the promising fighters who are contenders for the 2016 U.S. Olympic team. He said Tyson was offering the fighters “pennies on the dollar” for what they’d be worth following their Olympic experience. Tyson, though, defended his practice and made a great point early in his letter. I am writing you directly to give you the respect you didnt afford me when you addressed me in a public forum. I am most disappointed that you and USA Boxing could not afford me the courtesy and respect, not only as a former heavyweight champion, but a former amateur champion to contact me first instead of taking advantage of my name and company for publicity. Unquestionably, Tyson was on the money.