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Yellow | YRCW to buy Swift?

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liljoe

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As of 11-7-06 YRCW had put in a bid to buy Swift Transportation in a $2.17 Billion dollar private deal. This news was in yesterdays Kansas City Star newspaper.

:bananalama: Interesting!!!
 
liljoe said:
As of 11-7-06 YRCW had put in a bid to buy Swift Transportation in a $2.17 Billion dollar private deal. This news was in yesterdays Kansas City Star newspaper.

:bananalama: Interesting!!!
Click to expand...
Actually, the article said that the former CEO of Swift, wanted to buy them out!
 
Correction!

I stand corrected...It does not say that YRCW had bid on Swift. It just said 'A' bid had been placed to buy Swift and that is why YRCW stock has gone up.

Sorry for the misinformation!
 
The offer to but Swift was from the former owner, who wants to change it from a public comapany to a provite company. This caused a surge in trucking stocks for the day, and YFCW was mentioned as one who went up because of the Swift report.....nothing to do with YRCW....read ALL the story before jumping to conclusions.....KK
 
Ok all, thanks for clearing that up for me! I'm a rookie to the board...Cut a brother some slack huh!:poster_oops:
 
liljoe said:
I stand corrected...It does not say that YRCW had bid on Swift. It just said 'A' bid had been placed to buy Swift and that is why YRCW stock has gone up.

Sorry for the misinformation!
Click to expand...

LOL and that is HOW rumors are started....

hehe im not targeting you liljoe...but you just clearly illustrated a good example of how rumours are started...

no offence
 
Rocky said:
Read Tuesday's Wall Street Journal

Yellow put a bid in for SWift
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it was from Jerry Moyes, the Company's largest shareholder. not yrcw!



Swift Transportation Receives Letter From Jerry Moyes

PHOENIX, AZ -- (MARKET WIRE) -- November 06, 2006 -- Swift Transportation Co., Inc. (NASDAQ: SWFT) confirmed today that it received a letter from Jerry Moyes, the Company's largest shareholder, a current Director, and a former Chairman of the Board and CEO of Swift, proposing to acquire all of the Company's outstanding common stock in an all-cash transaction at a price of $29.00 per share. A copy of the letter sent by Mr. Moyes follows this press release.

The Company's Board of Directors has formed a Special Committee to review and evaluate the proposal, consistent with its fiduciary duties. Goldman, Sachs & Co. is serving as financial advisor to Swift.

PRESS RELEASE Swift Transportation Receives Letter From Jerry Moyes
 
I do not need to read the WSJ to know that it is NOTHING but a rumor.....besides, they would have to make a press release under law BEFORE the stock market opened that day....they did not....so it is nothing but BS.....KK
 
yo....

all you have to do is make 'yrcw' a google news alert and everything in a gazillion newspapers that mentions yrcw will appear on your google news page......

why would yrcw buy a dog like swift??????


mikeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
 
YRC Worldwide gained $1.50, or 3.98 percent, to $39.22 on news that a $2.17 billion bid had been made for Swift Transportation Co. Inc.
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So what does this mean? Yellow stock jumped cause someone is bidding on swift or what?
 
mikeeeeeeeeeeee,
I did a google finance search,here's the link, and the news that came up via kansas city star.

PS let me know if I left an "e" out of your sig. I was in a hurry,sorry :hide:
 
yo texas flood....

yrcw rose on the news that some private equity bid on swift, not on yrcw making the bid itself.....

maybe some private equity will take yrcw private.....

i would have no problem selling my shares for 60+ dollars........

in big finance when a company receives an offer, usually it's competitors rise up in unison with the original company....

i wondered why yrcw jumped up over a buck on my xm radio stock ticker that day.....

mikeeeeeeeeeeeeeeeeeee

ps; like i said before i got a bunch of news alerts for YELLOW and yrcw that automaticaly notify me
if a flea farts in overland park (real easy to set up, want the links????).......
 
MIKEEEEE said:
yo texas flood....

yrcw rose on the news that some private equity bid on swift, not on yrcw making the bid itself.....
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10-4 yes,thats what I was asking..if it jumped cause of the news or was it the other....thanks


MIKEEEEE said:
ps; like i said before i got a bunch of news alerts for YELLOW and yrcw that automaticaly notify me
if a flea farts in overland park (real easy to set up, want the links????).......
Click to expand...
yes please!! thanks
 
liljoe said:
As of 11-7-06 YRCW had put in a bid to buy Swift Transportation in a $2.17 Billion dollar private deal. This news was in yesterdays Kansas City Star newspaper.

:bananalama: Interesting!!!
Click to expand...
Maybe YRCW put in a bid to buy SWIFT to stop their drivers from backing out onto U.S. 54 in New Mexico and killing our sleeper team drivers.
 
Teamsters oppose Swift buyout offer
By eTrucker Staff

The Teamsters union has come out against Swift Transportation founder Jerry Moyes' offer to buy the Phoenix-based fleet, saying the bid is too low and questioning whether Moyes' seat on the Swift board is in the company's best interests.
Click to expand...
Link to the article
 
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