Ryder, CNF Objects Of Buyout Rumors
Are Ryder System and CNF Inc. takeover targets?
Edward M. Wolfe of Bear Stearns & Co. in New York said buyout rumors are driving up the price of Ryder’s stock, which rose 38% between March 8 and March 23.
For the full story, see the Apr. 3 print edition of Transport Topics. Subscribe today.
Some industry analysts think so, and have recently published comments about the possible breakup of the two companies, both of which have large logistics businesses that could attract potential suitors.
 |  |
GE Capital, which owns a large stake in rival Penske Truck Leasing Co. and United Parcel Service “are both looking seriously at buying out Ryder,” Wolfe said in a report for investors.
