It’s officially a done deal – two Phoenix-based trucking companies have become one.
Three days after shareholders for Knight Transportation and Swift Transportation gave their approval, the company became known as Knight-Swift Transportation Holdings, Inc.
It was an "all stock" deal, with one share of Swift converting to roughly three-quarters of Knight-Swift, and one share of Knight exchanged for one share of Knight-Swift.
In a company press release, Kevin P. Knight, executive chairman said, “The timing of the transaction could not be more favorable for addressing the supply chain, regulatory and demographic challenges facing our industry, and we are excited to bring to market the capabilities of these two great companies."
The combined company will stay in Phoenix and continue to operate separate brands.
Knight-Swift said it has approximately 23,000 tractors, 77,000 trailers and 28,000 employees.
