Parradee Kietsirikul
Knight-Swift Transport (NYSE:KNX) signed an agreement on Tuesday to buy US Xpress (NYSE:USX) with a total enterprise value of approximately USD 808 million, excluding transaction costs. The deal price for USX is $6.15 per share.
The agreement has been approved by boards of both companies and is expected to close by the end of the second quarter or the beginning of the third quarter. of 2023, subject to normal closing conditions.
Knight-Swift (KNX) expects its revenue base to grow by nearly 30% and has a high adjusted operating ratio for the ’80s. Teenage return on investment for US Xpress is projected ahead of the year. 2026.
Under the agreement, US Xpress (USX) brand and separate activities will continue. Knight-Swift’s (KNX) growth and diversification strategies will remain intact, with low leverage and strong cash flow to support the ongoing national LTL construction and a full range of capital allocation options.
Shares of Knight-Swift (KNX) go ahead 1.39% by agreement, while US Xpress (USX) has been suspended from trading.
