Tazz
Infidel
Truckers Swift and Knight Combine in a Deal Valued Over $5B
As part of the deal, announced Monday, each Swift share would be converted into 0.72 share of the new entity through a reverse stock split. Knight shares would be exchanged one-for-one. Swift shareholders would own 54% of the new company, with Knight holders owning the rest.
The Wall Street Journal had reported the deal overnight.
The new group is to be named Knight-Swift Transportation Holdings Inc.
So which one was in trouble? For now that say both brands will be run seperate but I see that going away as stock holders see dual yards, shops, etc etc eating profit.
As part of the deal, announced Monday, each Swift share would be converted into 0.72 share of the new entity through a reverse stock split. Knight shares would be exchanged one-for-one. Swift shareholders would own 54% of the new company, with Knight holders owning the rest.
The Wall Street Journal had reported the deal overnight.
The new group is to be named Knight-Swift Transportation Holdings Inc.
So which one was in trouble? For now that say both brands will be run seperate but I see that going away as stock holders see dual yards, shops, etc etc eating profit.