Western Express expects Smithway acquisition to close in August

user-gravatar

Western Express Inc. and Smithway Motor Xpress Corp., two truckload carriers that haul diversified freight nationwide, announced Friday, July 27, that the closing under the previously announced agreement on a plan for Nashville, Tenn.-based Western to acquire Smithway is expected to occur in August.

The acquisition terms have been approved by both companies’ boards of directors and by stockholders of Fort Dodge, Iowa-based Smithway, and now are subject to only those other customary closing conditions described in the acquisition agreement.

“Both parties have been working diligently to satisfy the outstanding closing conditions, and we expect these efforts to be rewarded with a successful closing next month,” says Wayne Wise, chairman, president and chief executive officer of Western, and G. Larry Owens, president and CEO of Smithway.