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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF 15(d) OF
THE SECURITIES ACT OF 1934
DATE OF REPORT: JUNE 30, 2000
J.B. HUNT TRANSPORT SERVICES, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
ARKANSAS 71-0335111
(STATE OF OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
615 J.B. HUNT CORPORATE DRIVE 72745
LOWELL, ARKANSAS
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
(501) 820-0000
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ITEM 2. Acquisition or Disposition of Assets.
Effective June 30, 2000, J.B. Hunt Transport Services, Inc.
(JBHT) and five other large U.S. transportation companies
completed the conversion of their non-asset based logistics
businesses into Transplace.com (TPC), a new jointly owned
logistics company. This transaction was effected by JBHT
contributing all of its transportation logistics business and all
related intangible assets and $5.0 million of cash to TPC. In
exchange for this disposition of assets, JBHT received an
approximate 27% initial membership interest in the fair market
value of TPC. This merger of the six transportation companies'
logistics businesses was pursuant to an Initial Subscription
Agreement dated April 19, 2000 and an Operating Agreement dated
April 19, 2000, copies of which are filed as Exhibit 2.1 and 2.2
to this Form 8-K Report.
ITEM 5. Other Events.
On July 13, 2000 - Transplace.com announced that its
operations had commenced as scheduled on July 1, 2000. This
internet-based logistics business is jointly owned by Covenant
Transport, Inc. (Nasdaq:CVTI); J. B. Hunt Transport Services, Inc.
(Nasdaq:JBHT); M. S. Carriers, Inc. (Nasdaq:MSCA); Swift
Transportation Co., Inc. (Nasdaq:SWFT); U. S. Xpress Enterprises,
Inc. (Nasdaq:XPRSA), and Werner Enterprises, Inc. (Nasdaq:WERN).
All the six founding carriers completed this conversion of their
logistics businesses to Transplace.com effective July 1, 2000. A
copy of this news release is filed as an exhibit to this Form 8-K.
ITEM 7. Financial Statements and Exhibits.
(a) Financial statements of business acquired:
JBHT has not determined whether this acquisition requires the
filing of historical financial statements. If such statements
are required pursuant to Item 7(a) of Form 8-K, the historical
financial statements of Transplace.com required by Rule 3-05
of Regulation S-X will be filed no later than September 13,
2000 under cover of Form 8-KA.
(b) Pro forma financial information:
JBHT has not determined whether this acquisition requires the
filing of pro forma financial information. If such financial
information is required pursuant to Item 7(b) of Form 8-K, the
pro forma financial information required by Article 11 of
Regulation S-X with respect to the acquisition of a portion of
Transplace.com will be filed no later than September 13, 2000
under cover of Form 8-KA.
(c) Exhibits
2.1 Initial Subscription Agreement dated April 19, 2000
2.2 Operating Agreement dated April 19, 2000
99.4 News Release of Transplace.com dated July 13, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J.B. HUNT TRANSPORT SERVICES, INC.
By: /s/ Kirk Thompson
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Kirk Thompson
President and Chief Executive Officer
By: /s/ Jerry W. Walton
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Jerry W. Walton
Executive Vice President, Finance
and Chief Financial Officer
EXHIBIT INDEX
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Exhibit No. Description of Exhibit
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2.1 Initial Subscription Agreement of Transplace.com, LLC among
Covenant Transport, Inc.; J.B. Hunt Transport Services, Inc.;
M.S. Carriers, Inc.; Swift Transportation Co., Inc.; U.S. Xpress
Enterprises, Inc., and Werner Enterprises, Inc. dated
April 19, 2000.
2.2 Operating Agreement of Transplace.com, LLC among Covenant
Transport, Inc.; J.B. Hunt Transport Services, Inc.; M.S.
Carriers, Inc.; Swift Transportation Co., Inc.; U.S. Xpress
Enterprises, Inc., and Werner Enterprises, Inc. dated
April 19, 2000.
99.4 News Release of Transplace.com dated July 13, 2000
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