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Stock impact report

Schneider National acquires Cowan, other assets for more than $400M [Yahoo! Finance]

Schneider National, Inc. (SNDR) 
Last schneider national, inc. earnings: 4/30 09:00 am Check Earnings Report
US:NYSE Investor Relations: investors.schneider.com
Company Research Source: Yahoo! Finance
Schneider ( NYSE: SNDR ) also entered separate agreements to acquire $31 million of Cowan's real estate assets. Baltimore-based Cowan is a 100-year-old dedicated truckload carrier serving the retail, food and beverage, industrial and building materials verticals with a fleet of over 1,800 trucks and 7,500 trailers. It also has a contracted carrier network with 500 owner-operators. The company has more than 40 terminals in the Eastern U.S. and provides other services like brokerage, drayage and warehousing. Following the deal, Schneider's dedicated fleet will include more than 8,400 tractors, accounting for approximately 70% of its TL assets. Schneider's annual dedicated revenue is now close to $2 billion with its consolidated revenue likely moving above $6 billion. The deal will be accretive to Schneider's earnings in the first year, before accounting for expected synergies. Schneider will use cash on hand and a new $400 million credit facility to fund the acquisition, whic Show less Read more
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