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Central Freight Lines, Inc. Announces Amendment to Merger Agreement Eliminating Closing Conditions.

Publication: PR Newswire
Publication Date: 20-SEP-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
WACO, Texas, Sept. 20 /PRNewswire-FirstCall/ -- Central Freight Lines, Inc. announced today that it has entered into a First Amendment to its previously announced Agreement and Plan of Merger (as amended, the "Merger Agreement") with North American Truck Lines, LLC ("NATL") and Green Acquisition Company ("Green"). The Merger Agreement provides that Jerry Moyes and certain related parties would become the owners of Central, and Central would cease to be a publicly traded company.

In making the announcement today, Central stated that, among other things, the First Amendment:

* Waives the purchaser's need to obtain financing as a condition to closing the merger; and * Clarifies that there is no pending litigation against Central that must be settled prior to closing the merger, other than the class action and derivate litigation for which agreements in principle to settle have been reached, as described in more...

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