Big M&A up Kuehne's sleeve?
Morning call
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Paying a hefty 310% premium, Knight-Swift (KNX) yesterday announced a sizeable truckload deal that bears the hallmarks of a counter-cyclical effort aimed at delivering earnings accretion post-peak cycle in the sector stateside. Over time.
Starting from next year – 2023 earnings power dwindles at best (look up, click to expand) – the buyer will make the best of its new combination with US Xpress Enterprises (USX), which will be taken over via a transaction mostly financed by cash, with a small equity ...
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