Semi-trailer manufacturer Wabash National Corp. was the successful bidder during a chapter 11 auction for three parcels of Beall Corp.'s assets with a $21.35 million bid, but Beall principals' refusal to sign noncompete agreements could threaten the deal, Dow Jones DBR Small Cap reported today. Wabash is looking for noncompete, nondisclosure, nonsolicitation and intellectual-property agreements with principals Jerry Beall, James Beall, Michael Beall and Mark Beall that would be valid for the next three years. The principals are refusing to sign the agreements unless they receive compensation for doing so, Wabash said, adding that the agreements are imperative for the deal to move forward.
