KLLM Chief Returns With Winning Offer
KLLM Chairman William “Jack” Liles III brought himself back from a brief, self-imposed exile May 26 and now stands poised to take over his own company.
While Liles never specified the backer’s name, it was widely assumed to be Bernard J. Ebbers, president of MCI Worldcom, another Mississippi-based company.
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Liles has been involved in a $27 million tug-of-war for the Jackson, Miss.-based refrigerated carrier with rival shareholder Robert E. Low, president of Prime Inc. of Springfield, Mo.
On May 19, Liles told the Securities and Exchange Commission he had to withdraw his $8.25-a-share offer to buy all the KLLM common stock he did not already own ("Liles' Backing Fails to Materialize," 5-29, p.3). He told the commission this was because “one of his financial backers withdrew financial support for the bid for reasons not related to [KLLM] or [Liles].”
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