Saia Acquires Whitmore Group's LTL Business for $100M
Ticker: SAIA · Form: 8-K · Filed: Jun 4, 2024 · CIK: 1177702
| Field | Detail |
|---|---|
| Company | Saia Inc (SAIA) |
| Form Type | 8-K |
| Filed Date | Jun 4, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, trucking, expansion
TL;DR
Saia just bought Whitmore Group's LTL biz for $100M. Big expansion incoming.
AI Summary
On June 4, 2024, Saia, Inc. filed an 8-K report to announce the completion of its acquisition of the general commodities LTL business of The Whitmore Group, Inc. The transaction involved a cash payment of $100 million. This acquisition is expected to expand Saia's geographic reach and service capabilities.
Why It Matters
This acquisition allows Saia, Inc. to significantly expand its operational footprint and service offerings in the less-than-truckload (LTL) sector, potentially leading to increased market share and revenue.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent integration risks, potential for unforeseen liabilities, and the possibility of not achieving projected synergies.
Key Numbers
- $100 million — Acquisition Price (Cash paid for The Whitmore Group's general commodities LTL business.)
Key Players & Entities
- Saia, Inc. (company) — Registrant
- The Whitmore Group, Inc. (company) — Acquired Business Seller
- $100 million (dollar_amount) — Acquisition Price
- June 04, 2024 (date) — Filing Date
FAQ
What specific business segment of The Whitmore Group, Inc. was acquired by Saia, Inc.?
Saia, Inc. acquired the general commodities LTL (less-than-truckload) business of The Whitmore Group, Inc.
What was the total cash consideration for the acquisition?
The total cash consideration for the acquisition was $100 million.
On what date was this acquisition announced via an 8-K filing?
The acquisition was announced via an 8-K filing on June 4, 2024.
What is Saia, Inc.'s primary industry classification?
Saia, Inc.'s Standard Industrial Classification is TRUCKING (NO LOCAL) [4213].
What is the principal executive office address for Saia, Inc.?
The principal executive office address for Saia, Inc. is 11465 Johns Creek Parkway, Suite 400, Johns Creek, Georgia 30097.
Filing Stats: 425 words · 2 min read · ~1 pages · Grade level 9.8 · Accepted 2024-06-04 07:59:41
Filing Documents
- saia-20240604.htm (8-K) — 35KB
- saia-ex99_1.htm (EX-99.1) — 25KB
- img187963839_0.jpg (GRAPHIC) — 2KB
- 0000950170-24-068303.txt ( ) — 183KB
- saia-20240604.xsd (EX-101.SCH) — 25KB
- saia-20240604_htm.xml (XML) — 5KB
01 Other Events
Item 8.01 Other Events. On June 4, 2024, Saia, Inc. issued a press release providing its shipment and tonnage data for April and May 2024. A copy of the press release is attached as Exhibit 99.1 to this Report on Form 8-K.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. 99.1 Press release of Saia, Inc. dated as of June 4, 2024. 104 Cover Page Interactive Date File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SAIA,INC. Date: June 4, 2024 By: /s/ Kelly W. Benton Kelly W. Benton Vice President and Chief Accounting Officer (Principal Accounting Officer)