Knight and Swift Merge

Discussion in 'Motor Carrier Questions - The Inside Scoop' started by 618trucker, Apr 10, 2017.

  1. 618trucker

    618trucker Bobtail Member

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    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
     
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  3. Florida Playboy

    Florida Playboy Road Train Member

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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?
     
  4. dca

    dca Road Train Member

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    cant read a word. blankety blank, nada


    Screenshot_2017-04-10-06-19-33-1.png



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  5. Thull

    Thull Medium Load Member

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    G13Tomcat Thanks this.
  6. Boattlebot

    Boattlebot Road Train Member

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    Great..... cus all we need is a larger more powerful swift....
     
    AM14, KillingTime, Moon_beam and 3 others Thank this.
  7. Antinomian

    Antinomian Road Train Member

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    LOL. Yeah briefly, until all the Central Refrigerated drivers quit.
     
  8. ironeagle2006

    ironeagle2006 Road Train Member

    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.
  9. Antinomian

    Antinomian Road Train Member

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    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.
  10. 618trucker

    618trucker Bobtail Member

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    Just what we need the megas getting even bigger. Cheap freight!!!
     
  11. dca

    dca Road Train Member

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    could be worse, could be a Swift Knight
     
    DoubleO7 Thanks this.
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