Entering text into the input field will update the search result below

Ryder stock rips on takeover bid (update)

Ryder Canada head office in Mississauga, Ontario, Canada.

JHVEPhoto/iStock Editorial via Getty Images

Shares of Ryder System Inc. (NYSE:R +17.1%) roared higher on Friday as a 13-D filing reflected a takeover bid for the company.

The filing notes the proposed purchase price at $86 per share made by

Recommended For You

Comments (4)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

pat45 profile picture
I would expect R to drop if say no

Prior to the bid for the company on Friday, the New York-based asset manager held 5.05 million Ryder (R) shares representing a 9.9% stake in the company. The filing also notes “cash-settled swap agreements with unaffiliated third-party financial institutions that reference 450,000 shares of common stock." "Together with our financing partners, we are prepared to devote the resources necessary to consummate the transaction and...are highly confident we can complete our due diligence within 60 days," HG Vora CEO Parag Vora wrote. Shares jumped over 17% shortly after the document was filed, approaching the proposed takeover price.

Herbert Samuel Jennings profile picture
@pat45 Who cares. It's the ultimate lowball. Look at its forward earnings. Only a short sighted person, or a swindler, would claim the company is only worth this offer.
Herbert Samuel Jennings profile picture
Lowballers, go back to the flea market.

Pawn Stars: "Best I can do is buy you out at a fPE of 5." LOL. I hope they got a good laugh at HQ, before throwing the letter into a paper shredder. I wouldn't sell out my shares to them, for anything less than double.
No. Not enough, IMHO.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.