Swift Transportation Co. said on Monday it would merge with trucking and logistics company Knight Transportation Inc., combining two of the biggest U.S. trucking operators.
The all-stock deal, with a combined enterprise value of $6 billion, will create the industry's largest full-truckload operator, the companies said.
Both Swift and Knight are based in Phoenix; each has terminals in the Kansas City area.
The combined entity will be called Knight-Swift Transportation Holdings Inc. Swift shareholders would own 54 percent of the new entity and Knight shareholders the rest after the deal closes.
Under the deal, each Swift share will be converted into 0.72 shares of the new company through a reverse stock split. Each Knight share will be exchanged for one share of the new company.
The new company will trade under the ticker KNX after the closing of the deal, expected in the third quarter.
http://www.stltoday.com/business/lo...cle_ad17e67c-78ea-529d-9448-c2f81046c36c.html
Knight and Swift Merge
Discussion in 'Motor Carrier Questions - The Inside Scoop' started by 618trucker, Apr 10, 2017.
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JustWannaBeComfortable, Florida Playboy and drvrtech77 Thank this.
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Wow. This after Swift bought out Central Refrigerated several years ago. Wasn't Swift already the biggest trucking company in America?
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cant read a word. blankety blank, nada
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Did yall hear the news?? They are merging to form a 6 billion dollar company!
https://www.google.com/amp/s/amp.bu...t-swift-transportation-merger-trucking-2017-4G13Tomcat Thanks this. -
Great..... cus all we need is a larger more powerful swift....
AM14, KillingTime, Moon_beam and 3 others Thank this. -
Toomanybikes, LoneCowboy and Florida Playboy Thank this.
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I wonder what the over under is on before we see Knight trucks as beat up as Swift's. It could have been worse they could have brought England into the mix.
scottied67 Thanks this. -
Business Insider has an absolutely incoherent article about this.
"The deal would help Knight and Swift take on their competitors amid plunging orders for some companies like Volvo Trucks North America. The rise of ecommerce is also changing their industry, as volumes and costs rise to meet new demand for home delivery."
Talk about phoning it in.
sevenmph and EatYourVeggies Thank this. -
Just what we need the megas getting even bigger. Cheap freight!!!
sevenmph, skinnytrucker and The Patriot Thank this. -
could be worse, could be a Swift Knight
DoubleO7 Thanks this.
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