Recently, the United States Swift transport company and Knight transport company announced that it will merge through the convertible. This will integrate the two major carriers in the US freight market, with a total market capitalization of more than $ 5 billion.
It is reported that through the joint stock, Swift shares per share for 0.72 shares after the merger of the new company shares, Knight shares per share can be exchanged for a share of new shares. Swift shareholders will hold 54% of the new company, Knight shareholders will hold the remaining shares. As of April 7 closing, Swift's market capitalization of 2.7 billion US dollars, Knight for 2.5 billion US dollars.
The new company will be named Knight-Swift transportation holding company, Swift and Knight their own brand and mode of operation will remain unchanged.
According to industry research firm SJ Consulting Group data, according to revenue, Swift is the fifth largest US freight company, and Knight ranked 22nd, behind the main rivals UPS and FedEx and so on.