Heartland Express, Inc. Acquires Gordon Trucking, Inc.

The Board of Directors of Heartland Express, Inc. ("Heartland") (HTLD) is pleased to announce today that it has acquired 100% of the stock of Gordon Trucking, Inc. of Pacific, Washington ("GTI") and certain associated assets in transactions valued at approximately $300 million. With combined total revenue of approximately $1 billion and a terminal network spanning from Washington to Florida and from Pennsylvania to Southern California, Heartland estimates the combined companies will operate the fifth largest asset-based truckload fleet in North America. Steve and Scott Gordon have joined Heartland's management team. Larry and Virginia Gordon will retire after 50 years of building GTI, and Larry Gordon has joined Heartland's Board of Directors. The transactions are expected to be immediately accretive to Heartland's earnings per share, excluding transaction-related expenses.

TransForce Announces Proposal for Vitran at USD$4.50 per Share

TransForce Inc. ("TransForce") (TFI.TO) (TFIFF), a North American leader in the transportation and logistics industry, today announced that it has submitted a proposal to the board of directors of Vitran Corporation Inc. ("Vitran") (VTNC) (VTN.TO) to acquire all of the issued and outstanding shares of Vitran not already owned by TransForce at a price of USD$4.50 per share in cash (the "Proposal").

The Proposal was made in a letter sent today to Vitran's Chairman of the Board of Directors.  TransForce made the Proposal with the objective of entering into negotiations with Vitran's Board and obtaining its support for the Proposal. The Proposal is conditional upon the sale of the US LTL business announced on September 23, 2013 .

Knight Transportation Proposes to Acquire USA Truck for $9.00 Per Share in Cash

Proposal Provides USA Truck Shareholders with Substantial Premium and Immediate Cash Value

Transaction Would Complement Knight’s Existing Operations and Solidify Knight’s Position as a Premier North American Transportation Services Company

Knight Files Schedule 13D Disclosing Approximately 8% Ownership Stake in USA Truck

Knight Transportation, Inc. (KNX)(“Knight”), one of North America’s largest and most diversified truckload transportation companies, today announced that it has proposed to acquire all of the outstanding shares of USA Truck, Inc. (USAK) for $9.00 per share in cash, valuing the equity of USA Truck at approximately $95 million.

Tsakos Energy Navigation Reports Profits for the First Quarter of 2013 and Dividend Declaration

Tenfold Increase in Operating Income to $9.7 Million -- Net Income of $1.0 Million; 30.0% Increase in EBITDA to $34.1 Million From Q1 2012; 7.4% Reduction in Daily Operating Expenses; TEN Celebrates 20 Years in the Capital Markets

Tsakos Energy Navigation Limited (TEN) (NYSE: TNP)

FIRST QUARTER AND RECENT HIGHLIGHTS

• Fleet consists of 28 product tankers, 19 crude carriers and two LNG vessels
• $9.7 million in operating income against $1.0 million in first quarter 2012
• Net income of $1.0 million against a loss of $8.8 million in first quarter 2012
• 44 out of 47 vessels with positive EBITDA

  Published: 24 May 2013

  Written by Editor

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