Bidding to Buy Out Swift Transportation

Currently the largest stockholder and the co-founder of the company in 1966, Moyes offered $29 a share for all outstanding common stock. Stock analysts who follow Swift's fortunes note that if the purchase goes through, Moyes will accrue liability of more than $2 billion.

Most recently in reporting third quarter results, Swift had operating revenues that climbed just 0.3% to $815.0 million, up from $812.9 million in 2005. With fuel surcharge revenue excluded from total revenue, the carrier actually saw a net decrease of 3.3% for the quarter, with income of $681.9 million, down from 2005’s $704.9 million.

TAGS: Archive
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.