3/2/2012 12:00:00 PM
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Celadon Group said this week it sold its 685,000 shares, or about 6.3% stake, of USA Truck that it purchased in October.
The truckload carrier made the disclosure in a regulatory filing on Tuesday. The shares were worth about $5.6 million.
Management of USA Truck, which is also a truckload carrier, declined to meet with Celadon shortly after the share purchase.
During the fourth quarter alone, Celadon acquired assets from Frozen Food Express and YRC Worldwideâ€™s Glen Moore truckload unit.
Earlier this week, Celadon said it bought assets from Tennessee carrier Teton Transportation.
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