Brief: Knight-Swift Transportation Agrees To Acquire U.S. Xpress Enterprises For $6.15 Per Share

US Xpress Enterprises

21/03/2023 13:00

March 21 (Reuters) - Knight-Swift Transportation
Holdings Inc  KNX.N :
    * KNIGHT-SWIFT TRANSPORTATION AGREES TO ACQUIRE U.S. XPRESS
ENTERPRISES FOR $6.15 PER SHARE
    * KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC - PROPOSED DEAL
FOR
ENTERPRISE VALUE OF APPROXIMATELY $808 MILLION
    * KNIGHT-SWIFT TRANSPORTATION - DEAL EXPECTED TO BE
ACCRETIVE TO
ADJUSTED EARNINGS PER SHARE STARTING IN 2024
    * KNIGHT-SWIFT TRANSPORTATION - TARGETING HIGH-80S ADJUSTED
OPERATING RATIO BY CALENDAR 2026 FOR CONSOL U.S. XPRESS BUSINESS
UNIT
    * KNIGHT-SWIFT TRANSPORTATION - THROUGH CLOSING, U.S. XPRESS
WILL
CONTINUE TO BE LED BY ITS CURRENT SENIOR MANAGEMENT
    * KNIGHT-SWIFT TRANSPORTATION - AT DEAL CLOSE, MAX FULLER,
ERIC
FULLER, ERIC PETERSON TO TRANSITION OUT OF EXECUTIVE OFFICER
ROLES AT U.S. XPRESS
    * KNIGHT-SWIFT TRANSPORTATION - JOSH SMITH WILL JOIN U.S.
XPRESS
AS CFO AFTER DEAL CLOSE

Source text for Eikon:  ID:nBw7lH39Ta 
Further company coverage:  KNX.N 

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