When you read that a US trucker of Ryder System’s calibre believes that bowing to private equity (PE) – at a price just about 10% lower than its stock’s all-time-long-gone high – isn’t worth it, you have to question the rationale.

Or maybe management simply decided to play hard ball, casually on their “2022 Investor Day“, in order to fetch a premium valuation.

How you dare?

A three-digit figure starting with “1” (per share, currently $82.4) would most likely carry the deal over ...

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