DB Schenker’s Combination with USA Truck – Global Legal Chronicle – Global Legal Chronicle

Latham & Watkins LLP represented DB Schenker in the transaction, while Scudder Law Firm, P.C., L.L.O. represented USA Truck.

DB Schenker, one of the world’s leading logistics service providers, and USA Truck (NASDAQ: USAK), a leading capacity solutions provider, have announced an agreement under which DB Schenker will acquire all outstanding shares of USA Truck common stock for US$31.72 per share in cash. The transaction values USA Truck at approximately US$435 million, including assumed cash and debt.

The combination advances DB Schenker and USA Truck’s shared vision to become the premier North American transportation solutions provider. Upon completion of the transaction, which the parties expect will occur by the end of 2022, USA Truck will become a private company and delist from NASDAQ Global Select Market.

Founded in 1983, USA Truck provides comprehensive capacity solutions to a diverse North American customer base, including more than 20% of the FORTUNE 100. USA Truck’s approximately 1,900-unit fleet of trucks, 2,100 employees, partnerships with more than 36,000 active contract carriers, strategic network of terminals across the Eastern half of the United States and a nationwide third-party logistics presence provides capacity solutions to meet the evolving demands of both regional and national customers.

With more than 76,000 employees at more than 1,850 locations in over 130 countries, DB Schenker, a 100 percent subsidiary of Deutsche Bahn, is one of the world’s leading logistics providers. The company operates land, air, and ocean transportation services, and it also offers comprehensive solutions for logistics and global supply chain management from a single source. In the Americas, DB Schenker is one of the largest integrated logistics service providers with more than 10,000 employees in 123 locations providing over 27 million sq. ft. of distribution operations to its clients. With integrated partners across the Americas, DB Schenker provides the best combination of intimate local practices knowledge and global capabilities.

Evercore served as financial advisor for USA Truck. Morgan Stanley & Co. Int. PLC served as financial advisor for DB Schenker.

Latham & Watkins LLP represented DB Schenker in the transaction with a cross-border corporate deal team led by New York partner Robert Katz (Picture), Chicago partner Max Schleusener, and Dusseldorf partner Tobias Larisch, with New York associates Trevor Kim and Jordan Wampler, and with assistance from Munich partner Thomas Gruetzner. Advice was also provided on tax matters by Chicago partner Rene de Vera; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Laura Waller; on benefits and compensation matters by New York counsel Rifka Singer; on intellectual property matters by Washington, D.C. counsel Kieran Dickinson, with associate Kellye Quirk; on data privacy and cybersecurity matters by Houston counsel Robert Brown, with associate Kathryn Parsons-Reponte; on real estate matters by Chicago counsel Jeffrey Anderson, with associates Matthew Mrazek and Shenu Reddy; on environmental matters by Houston partner Joel Mack and Los Angeles/Washington, D.C. counsel Josh Marnitz, with associate Andy Landolfi; on CFIUS matters by Washington, D.C. partner Damara Chambers, with associate Asia Cadet; on anti-bribery and anti-corruption matters by Chicago counsel Meredith Monroe, with associate Faiza Hasan; and on antitrust matters by Washington, D.C. partner Michael Egge, with associate Joy Dineo.