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TRUCKING INDUSTRY NEWS
* USA - Jerry Moyes Completes Acquisition of Swift Transportation
USA -TruckingInfo -11 May 2007: -- Jerry Moyes announced Thursday that Saint Corp., a corporation formed by Moyes and certain related parties, has successfully completed the acquisition of Swift Transportation Co. Inc... Moyes is the founder and former chairman of the board and CEO of Swift. Saint entered into a definitive agreement with Swift in January to acquire all of the outstanding shares of Swift common stock for $31.55 per share in cash, including the assumption of approximately $332 million of net debt, valuing the all-cash transaction at approximately $2.6 billion, or about $3.6 billion counting the Moyes family's rollover of their Swift investment and their contribution of Interstate Equipment Leasing...
* USA - YRC Worldwide to focus more on China, Asia, Zollars says
Kansas City,MO,USA -The Kansas City Star -May 17, 2007: -- After building up its domestic operations for several years, YRC Worldwide Inc. will look to the east for future expansion-- the Far East... That was the message of YRC Chairman and Chief Executive Officer Bill Zollars at the trucking giant's annual shareholders meeting today at its Overland Park headquarters... 'We're in the process of establishing a ground network in China to connect Asia to the U.S.,' Zollars said, noting that the company hoped to complete two acquisitions in China in the next six months...
Labels: trucking industry
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