Roadrunner Transportation (RRTS) Acquires R&M Transportation in $29.5M Deal
- Top 10 News for 3/2 - 3/6: Dow Index Adds Apple; Nonfarm Numbers Rip in Feb.; Banks Ace Stress Test
- Apple (AAPL) Will Replace AT&T (T) in the Dow Jones Industrial Average
- Change in Nonfarm Payrolls 295K vs 235K Expected
- Fed Stress Test Shows all 31 Banks Exceed Minimum Requirements (JPM) (GS) (MS) (WFC) (BAC)
- Staples (SPLS) Tops Q4 EPS by 1c; Comps Fell 1%
Roadrunner Transportation Systems, Inc. (NYSE: RRTS), announced today that it has acquired substantially all of the operating assets and business of R&M Transportation and all of the outstanding stock of Sortino Transportation, providers of truckload services based in Omaha, Nebraska, for approximately $24.4 million, plus an earn-out capped at $5 million. R&M and Sortino transport primarily refrigerated product throughout the United States utilizing a combination of independent contractors and a fleet of company-owned trailers. Roadrunner also announced today that it has amended and expanded its credit facility to $295 million to provide enhanced liquidity and future growth capital. Under the terms of the amended credit facility, Roadrunner modified limits and terms and obtained a reduction in interest rates of approximately 100 basis points.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Life Time Fitness (LTM) Higher on Reports of Joint Private Equity Bid
- Kang Healthcare (KANG) Takes Majority Stake in WA Centers HK Ltd.
- Targacept (TRGT) and Catalyst Biosciences to Merge
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!