Knight, Swift Transportation Merge To Create $5 Billion Trucking Giant Knight and Swift merged. Neither company bought the other.
Either way it strikes me as odd. A bunch of angry Swift executives quit and started their own company, also in Phoenix called Knight, only to make up and re-marry nearly 30 years later ..
No Knight bought Swift ... They call them mergers, but there is always a buyer and a seller. Knight was the buyer, they paid. Swift stock was converted to Knight stock.
The hubris at CR England is amazing. I remember specifically a article in the industry rag meant for fleet owners where CRE bragged they only had to keep 3 replacement reefer units for 600+ reefers ready at a moment's notice. What a waste. Those reefers do go down from time to time and they get very sick fast risking the load. And all three spares are 2000 miles away in Utah? HA serves them right for such hubris and bragging on it. I hope they choke on that reefer set.
Don't confuse a press release with facts ... You also have to know what you're reading. In a merger one company always pays a premium on the stock swap. The company that pays is the acquiring company. Knight paid the premium and Forbes so states.
They have become corrupt. The founders of CRE now have a vacuum where their souls used to be. The same goes for so many other heads of companies as well. The Bible says that it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of Heaven. Back when I first attended trucking school in 1992, CRE was regarded as a premier company to work for, and, as such, the uppity ups there were said to be such salt of the earth folks that they did not take a jet to far away meetings, but rather they would take a load going in that direction. It sounded great back then, but now I don't think that was the actual case. Probably just a trucking school directors' tall tale to entice trainees.
