Quality Distribution Inc. (QLTY)

[crudeoil24]

Sweet news to wake up to: Quality Distribution, Inc. (Nasdaq:QLTY) ("Quality Distribution" or the "Company"), a North American logistics and transportation provider with market leading businesses, today announced that it has entered into a definitive agreement to be acquired by funds advised by Apax Partners ("Apax"), a global private equity firm, for approximately $800 million, including the assumption of debt, or $16.00 per share in cash. The transaction price represents a premium of approximately 63% over Quality Distribution's closing share price on May 6, 2015. Quality Distribution believes that the transaction provides its shareholders with an attractive premium that delivers immediate compelling value for their shares. The definitive agreement was unanimously approved by Quality Distribution's Board of Directors, which recommended that Quality Distribution's shareholders approve the agreement.