Swift: Moyes Is Back in the Driver's Seat
Some CEOs won't quit. After Swift Transportation's (SWFT) founder Jerry Moyes settled insider trading charges with the Securities and Exchange Commission in September, 2005, he stepped down from his role as the trucking company's CEO. About a year later, Moyes came back with an offer to buy out the company for $29 per share. When rejected, he tried again. Now Moyes finally won an agreement to take over Swift for $31.55 per share, or around $2.74 billion plus the assumption of $332 million debt, the Phoenix company said late Friday Jan. 19.
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