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Investors applauded and then cooled on trucking firm Knight-Swift following the merger that created it, but they should take another look
Investors loved it last year when truckers Swift Transportation and Knight Transportation announced they would merge. Now investors might not love it enough.
Knight’s management, which would be running the combined company, was considered one of the best in the business, and Knight had the industry-leading operating ratio to prove it. Swift was the largest truckload operator but had high costs despite its size—a ready-made opportunity for the efficiencies Knight’s team would bring to it.