KLLM to be sold to group led by chief executive
JACKSON, Miss. (May 29, 2000) — A group led by KLLM Transport Services Inc. CEO Jack Liles has reached an agreement to buy the refrigerated carrier for $27.4 million, or $8.05 a share.
High Road, a holding company formed by Liles and WorldCom Inc. Chief Executive Bernard Ebbers, will buy the 83% of KLLM that Liles doesn’t already own. The per-share price represents an 18% premium to the stock price at the end of last week.
The company, based in Richland, Mississippi, had sales last year of $234.6 million US.
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