Written by: Stuart Chirls, Senior Editor Two of the largest U.S. over-the-road motor carriers have announced a deal that further strengthens their positions as leading providers of intermodal services. Swift Transportation, the largest common carrier trucker in the U.S., and Knight Transportation are combining in an all-stock deal worth as much as $6 billion. The new company, Knight-Swift Transportation Holdings Inc., will operate 23,000 tractors, 77,000 trailers and have 28,000 employees across a combined network of 70 terminals from coast to coast. It will be based in Phoenix, home to both carriers. Swift in 2016 ranked third among U.S. motor carriers and seventh among all operators with 10,200 53-foot domestic containers, according to Environmental Protection Agency statistics. The carriers in a joint statement said they have $5 billion in annual revenues, with a “significant presence in brokerage and intermodal." The deal is expected to close in the third quarter. Continue reading...
