Knight-Swift Transportation Acquires Regional LTL Carrier Dependable Highway Express; Financial Terms Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has acquired the regional less-than-truckload (LTL) division of Dependable Highway Express, Inc. The acquisition is expected to be immediately accretive to Knight-Swift's earnings per share and will expand their network coverage to approximately 70% of the US population.
July 30, 2024 | 1:04 pm
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Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has acquired the regional LTL division of Dependable Highway Express, Inc. This acquisition is expected to be immediately accretive to KNX's earnings per share and will expand their network coverage to approximately 70% of the US population.
The acquisition of Dependable Highway Express' regional LTL division is strategically significant for Knight-Swift as it expands their network coverage and is expected to be immediately accretive to earnings per share. This positive financial impact and strategic expansion are likely to boost investor confidence and positively impact the stock price in the short term.
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