Truckers Swift and Knight to Merge [FOX Business Network]
Knight-Swift Transportation Holdings Inc. (KNX)
Last knight-swift transportation holdings inc. earnings: 4/22 09:00 am
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US:NYSE Investor Relations:
investor.knighttrans.com
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Source: FOX Business Network
Swift Transportation is merging with Knight Transportation in a stock swap that would combine two of the biggest operators in a wavering U.S. trucking sector, which together are worth more than $5 billion. Continue Reading Below As part of the deal, to be 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 new group is to be named Knight-Swift Transportation Holdings Inc. and each company's brands and operations would remain distinct. The deal values Swift shares at $22.07, about a 10% premium to their closing price Friday. Swift's market value stood at $2.7 billion Friday and Knight's at $2.5 billion. Swift is the fifth-largest trucking company in the U.S. in terms of revenue and Knight is 22nd, according to industry researchers SJ Consulting
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News
- KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. ANNOUNCES QUARTERLY CASH DIVIDENDBusiness Wire
- Knight-Swift (KNX) Q1 Earnings & Revenues Miss Estimates [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating. They now have a $47.00 price target on the stock, down previously from $53.00.MarketBeat
- Knight-Swift Transportation Holdings First Quarter 2024 Earnings: US$0.016 loss per share (vs US$0.65 profit in 1Q 2023) [Yahoo! Finance]Yahoo! Finance
KNX
Earnings
- 4/24/24 - Miss
KNX
Sec Filings
- 5/2/24 - Form DEFA14A
- 5/1/24 - Form 10-Q
- 5/1/24 - Form 8-K
- KNX's page on the SEC website