• Knight, Swift shareholders agree to company merger

    Stockholders of Swift Transportation Company and Knight Transportation Inc have approved a merger of the two trucking companies at special meetings, with stockholders from both firms approving all proposals put forward.
    Sept. 8, 2017
    2 min read

    Stockholders of Swift Transportation Company and Knight Transportation Inc have approved a merger of the two trucking companies at special meetings, with stockholders from both firms approving all proposals put forward.

    Knight and Swift entered into a merger agreement April 9, 2017, agreeing to a combination transaction in which their respective businesses will be operated separately under a single combined company. This combined company will be named Knight-Swift Transportation Holdings Inc and will trade under the ticker “KNX.”

    Under terms of the merger agreement, each Swift share will convert into 0.72 shares of Knight-Swift by means of a reverse stock split. Each share of Knight will be exchanged for one Knight-Swift share.

    The merger is expected to close September 8, 2017.

    Morgan Stanley & Co LLC served as financial advisor to Swift. Kirkland & Ellis LLP served as legal advisor to Swift.

    Knight provides multiple truckload transportation and logistics services using a nationwide network of business units and service centers to serve customers throughout North America. Besides operating one of the nation’s largest tractor fleets, Knight also contracts with third-party equipment providers to provide a range of truckload services.

    Founded and based in Phoenix AZ, Swift operates a tractor fleet of about 18,500 units driven by company and owner-operator drivers. It operates more than 40 terminals positioned near major freight centers and traffic lanes in the United States and Mexico. Swift’s suite of services includes general; temperature-controlled; dedicated and cross-border US/Mexico/Canada service; flatbed and specialized trailers, as well as rail intermodal and non-asset-based freight brokerage and logistics management services.

    Sign up for our free eNewsletters

    Voice Your Opinion!

    To join the conversation, and become an exclusive member of FleetOwner, create an account today!