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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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
- Insights Into Knight-Swift (KNX) Q1: Wall Street Projections for Key Metrics [Yahoo! Finance]Yahoo! Finance
- Is Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Potentially Undervalued? [Yahoo! Finance]Yahoo! Finance
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) had its price target lowered by analysts at Stifel Nicolaus from $60.00 to $53.00. They now have a "buy" rating on the stock.MarketBeat
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) had its price target lowered by analysts at Barclays PLC from $62.00 to $57.00. They now have an "overweight" rating on the stock.MarketBeat
- Knight-Swift Transportation Holdings Inc. (NYSE: KNX) had its price target lowered by analysts at Stephens from $65.00 to $60.00. They now have an "overweight" rating on the stock.MarketBeat
KNX
Earnings
- 1/24/24 - Miss
KNX
Sec Filings
- 4/17/24 - Form 8-K
- 4/8/24 - Form PX14A6G
- 4/4/24 - Form ARS
- KNX's page on the SEC website