Chattanooga, TN-based U.S. Express, which is one of the nation’s largest publicly owned truckload carriers, may become a private company.
According to a company press release, Max Fuller and Patrick Quinn – who co-founded the company – are hoping to buy up all the outstanding stock.
The pair offered a little more than $20 a share when the stock was trading for around $14.
There has been no word on why they want to take the company private, but one advantage of going private is that a private company is subject to a lot less regulation by the Securities and Exchange Commission than a public one.
Swift Transportation, out of Phoenix, went private recently when founder Jerry Moyes bought up all of the company’s public stock.