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The $5 billion merger between Knight Transportation Inc. and Swift Transportation Co. got a speedy clearance May 2 from U.S. antitrust authorities to create North America’s largest long-haul trucker.
The Federal Trade Commission disclosed on its website that it granted early termination of the statutory waiting period that permits the antitrust agencies to investigate the competitive impacts of large mergers. The move signals that regulators had no concerns about the tie-up.
The combined company, which will operate as Knight-Swift Transportation Holdings Inc., has a combined revenue over $5 billion, the companies said in announcing the merger on April 10. The parties said that the new company will “capitalize on economies of scale to achieve substantial synergies” between the two businesses. They said that Knight-Swift will have an implied enterprise value of about $6 billion including $1.1 billion of net debt.
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