Swift, M S Carriers Complete Merger
Jul 1, 2001 12:00 PM
Swift Transportation Co Inc and M S Carriers Inc have completed their merger, almost a year after talks for joining the truckload carriers began.
M S Carriers stockholders will receive 1.7 shares of Swift common stock for each share of M S Carriers common stock, with cash paid in lieu of the issuance of fractional shares. M S Carriers has terminated registration of its common stock with the Securities and Exchange Commission and delisted from the Nasdaq National Market at the close of business.
With the merger, Swift expects to generate more than $2 billion in revenue for 2001. The company's 15,000 tractors and 45,000 trailers will offer more capacity throughout the continental United States, and to and from Mexico and Canada.
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