Trucking stocks on the rise amidst company privatization rumors

| 6/26/2007

Publicly held stocks some trucking companies are going up – partially because, the Houston Chronicle reports, investors hope the companies will go private and offer top dollar for the shares.

The Chronicle reports the speculation is fueled by Swift Transportation’s decision to go private in May, and this week’s revelation that top executives at U.S. Xpress Enterprises have offered to buy up all the outstanding shares and take that company private.

On Monday, U.S. Express stock shot up almost 34 percent in value to just under $19 a share.

Going private gets a company out from under many of the regulations of the U.S. Securities and Exchange Commission, and the requirement to issue quarterly financial reports.