Former chairman and CEO set to buy back Swift Transportation
22 January 2007Logistics Management reports on the goings on with Swift Transportation (going on since November 2006 if I remember right).
After an unsuccessful attempt to buy truckload carrier Swift Transportation Co. Inc. in November, a group led by the company’s former chairman and CEO Jerry Moyes has entered into a definitive merger agreement to acquire Swift in an all-cash transaction for approximately $2.74 billion
And he’s taking it private?
“Swift has evolved into the operator of the largest truckload fleet in the United States with a dedicated and energetic team of employees, over 17,900 trucks and nearly $3.2 billion in revenues,” said Noyes in a statement. “I am extremely pleased to have reached this agreement with Swift and look forward to building on the unique Swift legacy that has positioned the Company for continued growth and success.”
What can I say? “A swift end to a public Swift truckload carrier.”
Tags: Swift Transportation, Jerry Noyes, Swift is going private
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