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Rail News: Intermodal

Hub Group, Interdom Partners part ways on acquisition agreement

Hub Group Inc.’s deal to acquire Interdom Partners is off. The intermodal marketing company and transportation management firm recently announced the parties terminated an acquisition agreement reached last month that was expected to close at June’s end.

The Hub Group would have paid about $26 million in cash and $5 million in two earn-out cash payments to acquire the assets of Interdom Partners, which provides 20- and 40-foot container services to international and domestic customers, and operates two drayage companies in Chicago and Los Angeles.

“As we neared the closing date, we mutually decided that the acquisition would not be in either of our best interests,” said Hub Group Chief Executive Officer David Yeager in a prepared statement. “We continue to be optimistic about our future opportunities as we look at other acquisition candidates.”

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More News from 7/11/2007