Boyd Brothers goes private
Family members who control time Clayton, Ala.-based flatbed carrier Boyd Brothers Transportation Inc. announced plans to buy back common stock and take the company private. Under the agreement, founder Dempsey Boyd, president Gail Cooper, Frances Boyd and another individual will acquire the remaining 28 percent of outstanding shares of company common stock they do not already own. Stockholders will receive $7 per share.
The transaction is expected to be concluded in the spring, at which time Boyd Brothers will no longer be listed on the Nasdaq stock exchange.