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.
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