Swift’s Founder Buying Back Company
Jan 23, 2007 12:40 PM
CEO Jerry Moyes, the founder of Swift Transportation Inc., is buying back his Phoenix-based trucking company in a $2.74 billion deal.
Moyes will control the third-largest trucking company in the nation. Last year, the company rejected a $1.6 billion bid.
Moyes’ buying group, which includes family members, will assume $332 million in debt. The deal is expected to close in the spring.
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