Swift Transportation Company

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  • Aug. 7, 2013, 2:24 PM
    • Swift Transportation (SWFT +0.2%) shares are stuck in neutral, as the trucker's purchase of a refrigerated trucking business owned by Swift CEO Jerry Moyes raises eyebrows.
    • SWFT stresses the deal was the result of a lengthy, thorough review by a special board committee assisted by advisers from Lazard and law firm Baker Botts, but Moyes hasn’t been available for comment.
    • Baird lifts its SWFT target price to $20 to reflect expected $0.10/share accretion; Wells Fargo sets its target at $21-$22, seeing the acquisition as a nice strategic and economic fit.
    | Aug. 7, 2013, 2:24 PM
  • Aug. 7, 2013, 7:57 AM
    • Swift Transportation (SWFT) agrees to acquire privately held Central Refrigerated Transportation for ~$189M in cash and $36M in assumed capital lease obligations and other debt.
    • SWFT says the combination will make it the second largest U.S. temperature-controlled truckload provider.
    | Aug. 7, 2013, 7:57 AM
Company Description
Swift Transportation Co is a multi-faceted transportation services company and a truckload carrier in North America. The Company's four reportable operating segments consist of Truckload, Dedicated, Central Refrigerated and Intermodal.