USA Truck Inc. on Tuesday, Oct. 11, topped the list of biggest percentage price gainers among common stocks on the Nasdaq Stock Market following reports that Indianapolis-based rival Celadon had purchased a 6.3 percent stake in the Van Buren, Ark.-based company.
“USA Truck Inc. acknowledges the Schedule 13D Celadon Group Inc. filed today,” USA Truck said via a prepared statement. “The views of our stockholders are very important to us, and we carefully consider their input. Our board of directors will evaluate Celadon’s 13D filing in due course. We do not intend to comment further on this matter except as warranted by applicable laws and regulations.”
Celadon reported in a regulatory filing that it has asked to meet with USA Truck’s managers about combining the two companies. Celadon said no meeting has happened yet with either USA Truck’s managers or board, and that it is unsure whether USA Truck would be a good fit for its operations.