Last $0.67 USD
Change Today +0.005 / 0.76%
Volume 138.8K
As of 5:20 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

horizon lines inc-cl a (HRZL) Snapshot

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03/5/14 - $0.85
52 Week Low
06/6/14 - $0.29
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Current Stock Chart for HORIZON LINES INC-CL A (HRZL)

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horizon lines inc-cl a (HRZL) Details

Horizon Lines, Inc., together with its subsidiaries, is engaged in Jones Act container shipping business with primary service to ports within the continental United States, Alaska, Hawaii, and Puerto Rico. The company transports a range of consumer and industrial items that are used every day, such as refrigerated and non-refrigerated foodstuffs, household goods, auto parts, building materials, and various materials used in manufacturing. It also offers vessel loading and unloading services for vessel operators at its terminals; agency services for third-party shippers lacking administrative presences; warehousing services for third-parties; and other non-transportation services. The company serves consumer and industrial products companies; and agencies of the U.S. government, including the Department of Defense and the U.S. Postal Service. It owns 13 vessels; and owns or leases approximately 22,900 cargo containers. Horizon Lines, Inc. was founded in 1956 and is headquartered in Charlotte, North Carolina.

1,621 Employees
Last Reported Date: 03/21/14
Founded in 1956

horizon lines inc-cl a (HRZL) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $370.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $315.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $370.0K
Compensation as of Fiscal Year 2013.

horizon lines inc-cl a (HRZL) Key Developments

Horizon Lines, Inc., Special/Extraordinary Shareholders Meeting, Feb 25, 2015

Horizon Lines, Inc., Special/Extraordinary Shareholders Meeting, Feb 25, 2015., at 10:00 US Eastern Standard Time. Location: 601 Lexington Avenue, 50th Floor. Agenda: To consider and vote upon the Agreement and Plan of Merger, dated as of November 11, 2014.

Horizon Lines, Inc. Announces Settlement of Litigation Pending in Delaware Court of Chancery in Connection with Proposed Merger with Matson Navigation, Inc

Horizon Lines, Inc. announced it has reached an agreement in principle providing for the settlement and dismissal, with prejudice, of the consolidated putative class action complaint pending in the Delaware Court of Chancery in connection with Horizon's proposed merger with Matson Navigation, Inc., a subsidiary of Matson, Inc. Pursuant to the settlement with plaintiffs, which is subject to Court approval, Horizon agreed to make certain supplemental disclosures to Horizon's stockholders through a supplement to Horizon's proxy statement. Further, Horizon agreed to amend the Agreement and Plan of Merger, dated as of November 11, 2014, by and among Horizon, Matson, and Hogan Acquisition Inc., a wholly-owned subsidiary of Matson to reduce the termination fee that may be payable by Horizon to Matson under certain circumstances from $17,149,600 to $9,500,000. The settlement will not affect the merger consideration to be paid to Horizon's stockholders in connection with the Merger or the timing of the special meeting of Horizon's stockholders scheduled for February 25, 2015 at 10:00 a.m., local time, at 601 Lexington Avenue, 50th Floor, New York, New York 10022, to consider and to vote upon a proposal to adopt the Merger Agreement, among other things. Horizon and its board of directors believe that the claims in the actions are entirely without merit but are entering into this settlement because it will eliminate the risks, costs, and other burdens of litigation. In the event the Court does not approve the settlement, Horizon and its board of directors intend to contest the claims vigorously.

Horizon Lines Terminates Puerto Rico Operations

Horizon Lines, Inc. announced that it would cease providing liner service between the U.S. and Puerto Rico by the end of 2014 due to continuing losses without the prospect of future profitability. In Puerto Rico, Horizon Lines has incurred substantial cumulative losses and negative cash flows in recent years, despite ongoing efforts to remain competitive. Operations of the Puerto Rico service will be curtailed in a careful and orderly manner. The Company will cease liner service for domestic customers by the end of the year, however San Juan terminal services will continue to be provided into the first quarter of 2015. The Company will work closely with customers to assist them in identifying service alternatives.


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