Knight's remarks aren't surprising, as it was long believed that, if a friendly offer failed, it would go directly to USA Truck's shareholders to pressure the board to do a deal. The battle between the two truckload carriers escalated on Thursday after USA Truck issued a statement rebuffing Knight's offer and criticized Knight for presenting its proposal "in a misleading manner." Van Buren, Ark.-based USA Truck said its board reviewed Knight's unsolicited proposal in early September and determined it "substantially undervalued" USA Truck in light of changes made by top management as part of its ongoing multiyear turnaround plan. USA Truck said in its statement that Knight on Sept. 13 rejected its offer to meet and discuss the proposal, informing USA Truck that it saw no need to discuss the matter at that time. Under the proposal, Knight, which already owns 8 percent of USA Truck stock, would pay $9 in cash, or about $95 million, for the remaining shares.