Private equity targets Ryder System – stock surges 17%

MIAMI–(BUSINESS WIRE)–Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, today confirmed that it has received an unsolicited indication of interest from HG Vora Capital Management, LLC to acquire all of the outstanding shares of Ryder not currently owned by HG Vora for $86.00 per share in cash.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Ryder Board of Directors will carefully review and evaluate the indication of interest to determine the course of action that it believes is in the best interest of the Company and its shareholders.

Morgan Stanley & Co. is acting as financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Ryder.

About Ryder

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some of the world’s most-recognized brands.

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