Western, Smithway Deal to Close in August

Truckload carriers Western Express and Smithway Motor Xpress Corp. said they would close their pending deal, in which Western will acquire Smithway, in August.

Terms have been approved by both companies’ boards and by Smithway’s stockholders, and are now subject to customary closing conditions, the two said late Friday.

Publicly traded Smithway is primarily a flatbed hauler. Western is privately held.

Smithway’s shareholders last month approved the company’s acquisition by Western Express for $10.63 a share. Shares closed Friday at $10.31.

The combined company under the Western Express name is ranked No. 50 in the 2007 Transport Topics 100 listing of U.S. and Canadian for-hire carriers.