Hub Group Drops Interdom Deal

Hub Group Inc. said it has terminated its agreement to acquire intermodal marketing company Interdom Partners.

“As we neared the closing date, we mutually decided that the acquisition would not be in either of our best interests,” David Yeager, chief executive officer of Hub, said in a statement.

Hub said it expects to expense about $300,000 in transaction-related costs in the second quarter, according to a filing with U.S. Securities and Exchange Commission.

The agreement, announced June 6, called for Hub, Downers Grove, Ill., to pay $26.4 million in cash and up to $2.5 million in two earnout payments.

Hub ranks No. 39 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics companies.