Hub Group, Inc. Announces the Termination of its Agreement to Acquire the Assets of Interdom Partners
DOWNERS GROVE, Ill., July 9, 2007 /PRNewswire-FirstCall via COMTEX News Network/ — Hub Group
(Nasdaq: HUBG) announced today that its acquisition of Interdom has been
terminated. The closing was expected to occur at the end of June but was
subject to certain customary closing conditions and approvals.
David Yeager, Hub’s CEO, commented, “As we neared the closing date, we
mutually decided that the acquisition would not be in either of our best
interests. We still have great respect for Interdom and we know they will
continue to be a strong player in the intermodal market. We continue to be
optimistic about our future opportunities as we look at other acquisition
candidates.”
ABOUT HUB GROUP: Hub Group, Inc. is a leading asset light freight
transportation management company providing comprehensive intermodal, truck
brokerage and logistics services. The Company operates through a network of
over 30 offices throughout the United States, Canada and Mexico.
CERTAIN FORWARD-LOOKING STATEMENTS: Statements in this press release that
are not historical, including statements about Hub Group’s or management’s
intentions, beliefs, expectations, representations, projections, plans or
predictions of the future, are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently uncertain and subject to risks. Such statements
should be viewed with caution. Actual results or experience could differ
materially from the forward-looking statements as a result of many factors.
Factors that could cause actual results to differ materially include the
factors listed from time to time in Hub Group’s SEC reports including, but not
limited to, the annual report on Form 10-K for the year ended December 31,
2006 and the report on Form 10-Q for the period ended March 31, 2007. Hub
Group assumes no liability to update any such forward-looking statements.
SOURCE Hub Group, Inc.
Amy Lisek of Hub Group, Inc., +1-630-795-2214
https://www.hubgroup.com