Truckers Swift, Knight set to merge

Swift Transportation is merging with Knight Transportation.

The merger would create Knight-Swift Transportation Holdings Inc. Together, the companies are said to be worth more than $5 billion.

Through the deal, Swift shares would be converted into 0.72 shares of the new entity. Knight shares would be exchanged one-for-one. At the conclusion of the merger, Swift shareholders would own 54 percent of the combined company, with Knight shareholders owning the remainder.

Read more from Dow Jones Newswires.

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