Hub Group (HUBG) entered into an agreement to acquire the intermodal assets of Marten Transport, Ltd. Intermodal, a division of Marten Transport (MRTN). Marten Intermodal provides temperature-controlled intermodal service to a diversified group of approximately 100 shippers in the food and beverage segments. Temperature-controlled intermodal transportation provides shippers the competitive advantages of reliable service and lower cost as compared to over the road temperature-controlled transportation. The transaction is structured as an asset purchase of certain intermodal equipment and contracts from Marten Transport Ltd. for $51.8M in cash and is expected to close by the end of the third quarter subject to certain customary closing conditions.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HUBG:
- ‘Hot Picks in Transportation and Logistics’: Baird Picks 2 Stocks Positioned to Outperform
- Hub Group price target lowered to $36 from $39 at JPMorgan
- Hub Group resumed with an Outperform at Baird
- Hub Group Enters New Credit Agreement with BMO
- Hub Group price target raised to $46 from $45 at Susquehanna