Swift Transportation has rejected a buy-out proposal from former Chairman and CEO Jerry Moyes. Earlier this month Moyes offered $29 per share for the company’s outstanding common stock.
Total value of the deal is estimated at $2.17 billion. In a letter to the company Moyes said he had a financing commitment from Morgan Stanley.
After reviewing the offer, a special committee set up by Swift’s board of directors said Moyes’ proposed price was “inadequate.” The company said the committee has opened discussions with Moyes and is exploring other options, including talks with other potential buyers. But it stressed that there is no timetable and no assurance that any of the discussions will result in a specific transaction.
Moyes co-founded Swift with his brother Ronald 40 years ago. He is currently the largest shareholder with a 26 percent stake in the company, and he continues to serve on Swift’s board.
Swift Transportation Rejects Moyes Bid
Swift Transportation has rejected a buy-out proposal from former Chairman and CEO Jerry Moyes. Earlier this month Moyes offered $29 per share for the company’s outstanding common stock
More Drivers
FMCSA Extends Paper Medical Card Exemption … Again
Five states still aren't ready to accept commercial driver medical exam information directly from the medical examiner's registry.
Read More →
Mack Launches Digital Driver Guide for Chassis-Specific Truck Info
Mack’s new, virtual owner’s manual delivers VIN-based, on-demand guidance for vehicle systems via web, app, and soon in-cab displays.
Read More →
Western Star Showcases Truckers' Pride and Skill
Western Star is expanding its Star Nation Experience in 2026, adding new competitions and dealer participation to highlight operator skills and promote careers in trucking.
Read More →
Best Fleets to Drive For: Two Carriers Earn Overall Award for First Time
CarriersEdge announced the 2026 Best Fleets to Drive For overall winners, with Crawford Trucking, Fortigo Freight Services, and FTC Transportation receiving top awards.
Read More →
Federal Proposal Would Allow Pell Grants for Shorter-Term Job Training
The Department of Labor plans to expand Pell Grant eligibility to some shorter workforce training programs, a move the American Trucking Associations said will help strengthen commercial driver training schools and diesel technician training programs.
Read More →
Owner-Operator Model Gets Boost as DOL Proposes 2024 Independent Contractor Definition Reversal
For an industry that has watched this issue go back and forth for years, the independent contractor proposal marks the latest swing in the regulatory pendulum.
Read More →
FMCSA Reinstates Field Warrior ELD to Registered Device List
One electronic logging device has been reinstated to the FMCSA's list of registered ELDs.
Read More →
How One Company is Using Smart Suspension Technology to Reduce Driver Injuries and Improve Retention
America’s Service Line adopted Link’s SmartValve and ROI Cabmate systems to address whole-body vibration, repetitive strain, and driver turnover. The trucking fleet is already seeing measurable results.
Read More →
CarriersEdge Announces 2026 Best Fleets to Drive For
The 18th annual contest recognizing the best workplaces for truck drivers sees changes to Top 20, Hall of Fame
Read More →
FMCSA Targets 550+ ‘Sham’ CDL Schools in Nationwide Sting Operation
The Federal Motor Carrier Safety Administration issued more than 550 notices of proposed removal to commercial driver training providers following a five-day nationwide enforcement sweep. Investigators cited unqualified instructors, improper training vehicles, and failure to meet federal and state requirements.
Read More →