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The board of directors of Swift Transportation has unanimously accepted founder Jerry Moyes's $2.74 billion bid to buy the company he founded in 1966 -- and from which he was ousted last year from his CEO position amid an options backdating scandal. The all-cash transaction will include the assumption of about $332 million of net debt. Stockholders will receive $31.55 in cash for each share of Swift common stock, amounting to a premium of about 31% from the close on Friday, November 3, the last trading day before Moyes proposed acquiring the company for $29.00 per share. If approved by stockholders and regulators, the deal will close in Q2. Shares closed Friday at $27.74. Phoenix-based Swift is the third-largest trucking company in the U.S., with 17,900 trucks and almost $3.2 billion in revenues. Moyes paid a $1.26 million settlement last year without acknowledging wrongdoing and was fired two months before his planned retirement. He has since tried more than once to take back his company. Moyes's success with his latest bid might enable him to administer the coup de grace to the people who fired him.

• Sources: MoneyCentral (I, II)
• Related commentary: Swift Rejects $2.2 Billion Buyout Offer from Former CEO, Ousted Swift Transportation CEO Moyes Tries To Buy Company, Does the Slowdown in Trucking Mean a Retail Slowdown Is Around the Bend?, Trucker C.H. Robinson's Strategy of Not Owning Its Trucks Pays Off
• Potentially impacted stocks and ETFs: Swift Transportation Co. Inc. (NYSE:SWFT). Competitors: JB Hunt Transport Services Inc. (NASDAQ:JBHT), Landstar System Inc. (NASDAQ:LSTR), Werner Enterprises Inc. (NASDAQ:WERN), CH Robinson Worldwide Inc. (NASDAQ:CHRW). ETFs: PowerShares Dynamic Small Cap Value (PWY)

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Source: Swift Board Accepts Founder Moyes's $2.74 Billion Offer