Investors approve Knight-Swift deal
PHOENIX, AZ - A merger to create the biggest truckload fleet in North America has been approved by stockholders. A special meeting of Knight Transportation stock holders, held yesterday, approved the merger of the company with Swift Transportation Company that was announced in April.
Daseke purchases Big Freight, The Schilli Companies
ADDISON, TX - American-based open deck provider Daseke has acquired Winnipeg-based Big Freight Systems and Indiana's The Schilli Companies for undisclosed terms. "We're proud to welcome Schilli and Big Freight, as well as each of their outstanding teams to the Daseke family," said Don Daseke, president and Chief Executive Officer of Daseke. "Both companies are industry elites in the open deck specialized market, and will bring new dimensions to Daseke's depth of services and geographic footprint."
Knight and Swift to merge
Swift Transportation Co. and Knight Transportation Inc. announced on April 10 that they will merge via a stock swap to form a new company, Knight-Swift Transportation, according to published reports. The deal would combine two of the largest players in trucking in a business valued at over US $5 billion. The two Phoenix-based carriers will be operated as distinct brands, according to a news report posted by The Wall Street Journal.
Westport and Fuel Systems Solutions Announce Merger
VANCOUVER, BC and NEW YORK, NY -- Westport Innovations Inc. and Fuel Systems Solutions Inc. on Tuesday jointly announced the companies have entered into a merger agreement to create an alternative fuel vehicle and engine company. The move comes after the two companies combined lost US$43.7 million in the first half of 2015, according to Transport Topics newspaper. Westport has a publicly stated goal of reaching break even by the middle of 2016 and the merger would only strengthen the company's ability to meet this goal, said a news release. The companies anticipate closing the transaction in the fourth quarter of 2015. Westport and Fuel Systems will operate as separate companies until that time.