Swift Transportation Co SWFT shares are trading higher by $4.50 (20 percent) at $24.52 in Monday's session.
That's considerably higher than the offer price ($22.07) it has received from Knight Transportation KNX that was announced over the weekend. Based on the terms of the deal, Swift Transportation shareholders are to receive 0.72 shares of the combined company.
As a result of the Street interpreting the merger of two equals to create an overall better and more profitable company, shares of Knight are trading higher by $3.85 at $34.50 early in Monday's session. That is translating to a higher price for Swift Transportation.
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