July 6 (Reuters) - Heartland Express Inc:
* Heartland Express acquires interstate distributor co.
* Heartland Express Inc - transaction enterprise value of approximately $113 million
* Heartland Express Inc - heartland acquired 100pct of IDC’s outstanding stock from Saltchuk for cash.
* Heartland Express Inc - heartland expects to pay off all of IDC’s debt after deal closing.
* Heartland Express Inc - transaction was funded through $94 million of heartland’s existing cash, plus assumption of approximately $23 million of IDC’s debt
* Heartland Express Inc - based on expected synergies, transaction is expected to be accretive to heartland’s earnings in first full quarter of operations
* Heartland Express Inc - acquired 100pct of outstanding stock of Interstate Distributer Co Of Tacoma, Washington from Saltchuk Resources Inc Source text for Eikon: Further company coverage: