Two different groups are opposing the sale of Swift
Transportation to its founder and largest stockholder, Jerry Moyes.
According to the Phoenix
Business Journal, two separate lawsuits filed by Swift shareholders contend
the $29-dollar-a-share offered by Moyes is too low.
The Teamsters – which owns shares in the company – also
opposes a sale, saying Moyes’ bid is too low and questioning whether his
influence is in the best interest of the company.
Last year, Moyes stepped down as Swift’s president and CEO
after a federal lawsuit was filed over his stock transactions. On Nov. 6, he sent a letter to Swift executives notifying
them of his intent to buy the company and take it private.