Knight Transportation and Swift Transportation merge in $6 billion deal

Discussion in 'The Drivers Lounge' started by SuperCourse, Apr 10, 2017.

  1. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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    Knight Transportation Inc. KNX, +2.61% and Swift Transportation Co. SWFT, +16.38% said Monday they are merging in an all-stock deal with a combined enterprise value of $6 billion. The combined entity will be called Knight-Swift Transportation Holdings Inc. and will trade under the ticker "KNX", the companies said in a joint statement. The deal "combines under common ownership two long-standing industry leaders creating North America's premier truckload transportation company with $5 billion in annual revenue and a "Top 5" truckload presence in dry van, refrigerated, dedicated, cross-border Mexico and Canada, and a significant presence in brokerage and intermodal," said the statement. The company will remain headquartered in Phoenix, Arizona with about 23,000 tractors, 77,000 trailers and 28,000 employees. Under terms of the deal, each Swift share will convert into 0.72 shares of Knight-Swift via a reverse stock split. Each share of Knight will be exchanged for one Knight-Swift share. The deal is expected to boost adjusted per-share earnings in the second half of 2017, adding about $15 million, followed by $100 million in 2018 and $150 million in 2019. The deal is expected to close in the third quarter, Knight shares rose 0.5% in premarket trade, while Swift shares were not yet active.

    http://www.marketwatch.com/story/kn...sportation-merge-in-6-billion-deal-2017-04-10
     
  2. SuperCourse

    SuperCourse WHO IS JOHN GALT?

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  3. pro1driver

    pro1driver I am LAST

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    instead of "Knight -Swift"

    should be called...Swiftly thru the Knight"....

    or maybe..

    Knight-Swifties

    or maybe

    More Crash Transportation
     
    Last edited: Apr 10, 2017
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  4. BIG R GUY

    BIG R GUY Part time Coop Dispatch driver

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    I cannot believe Knight would get involved with Swift. Knight, from what I have seen doesn't appear to have all the publicity Swift does as far as, off route blame the GPS accidents, hitting bridges, and accidents in general ...
     
  5. pro1driver

    pro1driver I am LAST

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    since it appears that Knight is first in the new company name, i would be willing to bet many Swift people will be put on vacation.

    it would also be a willing bet, that in due time, many drivers will be put on vacation.

    it would be another willing bet, Swift will be dissolved in as little as 5 years.
     
  6. BIG R GUY

    BIG R GUY Part time Coop Dispatch driver

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    You may be correct....
     
  7. DCM_Doc

    DCM_Doc Well-Known Member

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    Knight had attempted a hostile takeover of a smaller trucking company in Arkansas. Companies must have growth to survive.
     
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  8. Cerberus_Kelpie

    Cerberus_Kelpie Wings Over the World!

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    I applied to Knight in early or mid February (for the Charlotte, NC site) and spoke with 2 women recruiters within 2 weeks.
    Problems I had was all their trucks would be auto shift within 2 years, they require listing Orientations as "work history", I could work part time as 7 on, 7 off or the other option 14 on, 7 off as a SLIP-SEAT operation. They didn't specify what it took to be full time or to get a assigned truck and no mention then of their business merger.
    - - - -
    For pro1:
    Swift Knight Transportation or S.K.T.: SKaTe into your Future!!

    Some Kook Trainers.
    Slight Kinky Twist.
    Smell Kinda Tasty.
    Stay Kind in Talk.
    Slight Knight Time.
    See What I Found Today; a Knight.

    K.S.T. would have been fun:
    Keep it Simple Trainee.
    - - - -
    NO MORE shall those drivers be known as "Knights of The Road"!!
    Maybe "Swift Knights on the side of a road" or "Swift Knights off a cliff or in a river".

    Less on this later.
    CHUCKLES out........end of line
     
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