Swift Transportation Stockholders Approve Merger With Knight Transportation

Swift Transportation Company (NYSE: SWFT) (“Swift”) has announced that its stockholders approved its merger with Knight Transportation, Inc. (NYSE: KNX) (“Knight”) at a special meeting of Swift stockholders. 

As previously announced, on April 9, 2017, Swift and Knight entered into a merger agreement (the “Merger Agreement”), pursuant to which they agreed to a combination transaction after which their respective businesses will be operated separately under a single combined company.

The combined company will be named Knight-Swift Transportation Holdings Inc. (“Knight-Swift”) and will trade under the ticker “KNX.” Under the terms of the Merger Agreement, each Swift share will convert into 0.72 shares of Knight-Swift by means of a reverse stock split and each share of Knight will be exchanged for one Knight-Swift share.

About Swift Transportation Company

Swift Transportation originated and is based in Phoenix, Arizona, and operates a tractor fleet of approximately 18,500 units driven by company and owner-operator drivers. The company operates more than 40 major terminals positioned near major freight centers and traffic lanes in the United States and Mexico. Swift offers customers the opportunity for “one-stop shopping” for their truckload transportation needs through a broad spectrum of services and equipment.