Trailer Bridge to consider alternatives, will aid in sale of McLean family shares

By Lisa Kerner

Charlotte, N.C., Dec. 12 - The board of Trailer Bridge, Inc. formed a committee of non-McLean family member directors to "explore a broad range of strategic alternatives to further enhance shareholder value," it was announced Wednesday.

The committee plans to work closely with the McLean family and its advisers to "achieve an orderly sale of the family's stock" in a transaction the committee believes will be in the best interests of all shareholders, a Trailer Bridge news release stated.

Jefferies & Co. has been retained to assist in the review process.

Committee members include company chairman and chief executive officer John D. McCown, Robert P. Burke, Douglas E. Schimmel, Allen L. Stevens and Nickel van Reesema.

The McLean family intends to "actively pursue a sale of their Trailer Bridge shares," a Nov. 21 Securities and Exchange Commission filing stated.

The sister and children of Trailer Bridge's founder, the late Malcom P. McLean, beneficially own 5.8 million shares, or 47.8% of Trailer Bridge's outstanding common stock. Malcom P. McLean Jr. and his brother-in-law, Greggory B. Mendenhall, are current members of the company's board.

Trailer Bridge is a Jacksonville, Fla., integrated trucking and marine freight service company.

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