Minneapolis private equity firm Goldner Hawn Johnson & Morrison has agreed to buy trucking company Transport Corp. of America for $66 million.
Under the deal, each share of Transport Corp.’s common stock will be converted into the right to receive $10 in cash. The Eagan, Minn.-based carrier has about 6.6 million common shares outstanding, excluding options. The deal, subject to shareholder approval, is expected to be completed in the first quarter of 2006.
Transport Corp. said its two largest shareholders, together with the company’s board of directors, have agreed to support the deal. They hold a combined 19.75 percent stake in the company.
