Ryder Confirms Receipt of Unsolicited Indication of Interest from HG Vora
May 13 2022 - 1:27PM
Business Wire
Ryder System, Inc. (NYSE: R), a leader in supply chain,
dedicated transportation, and fleet management solutions, today
confirmed that it has received an unsolicited indication of
interest from HG Vora Capital Management, LLC to acquire all of the
outstanding shares of Ryder not currently owned by HG Vora for
$86.00 per share in cash.
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Ryder is a leader in supply chain,
dedicated transportation, and fleet management solutions. (Photo:
Business Wire)
Consistent with its fiduciary duties and in consultation with
its financial and legal advisors, the Ryder Board of Directors will
carefully review and evaluate the indication of interest to
determine the course of action that it believes is in the best
interest of the Company and its shareholders.
Morgan Stanley & Co. is acting as financial advisor and
Wachtell, Lipton, Rosen & Katz is acting as legal advisor to
Ryder.
About Ryder
Ryder System, Inc. (NYSE: R) is a leading logistics and
transportation company. It provides supply chain, dedicated
transportation, and fleet management solutions, including full
service leasing, rental, and maintenance, used vehicle sales,
professional drivers, transportation services, freight brokerage,
warehousing and distribution, e-commerce fulfillment, and last mile
delivery services, to some of the world’s most-recognized brands.
Ryder provides services throughout the United States, Mexico,
Canada, and the United Kingdom. In addition, Ryder manages nearly
239,000 commercial vehicles and operates more than 330 warehouses,
encompassing more than 80 million square feet. Ryder is regularly
recognized for its industry-leading practices in third-party
logistics, technology-driven innovations, commercial vehicle
maintenance, environmentally friendly solutions, corporate social
responsibility, world-class safety and security programs, military
veteran recruitment initiatives, and the hiring of a diverse
workforce. www.ryder.com
Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are "forward-looking
statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on our current plans and expectations and are subject to
risks, uncertainties and assumptions. Accordingly, these
forward-looking statements should be evaluated with consideration
given to the many risks and uncertainties that could cause actual
results and events to differ materially from those in the
forward-looking statements, including those risks set forth in our
periodic filings with the Securities and Exchange Commission. New
risks emerge from time to time. It is not possible for management
to predict all such risk factors or to assess the impact of such
risks on our business. Accordingly, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events, or otherwise.
ryder-financial
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version on businesswire.com: https://www.businesswire.com/news/home/20220513005463/en/
Media: Amy Federman (305) 500-4989 afederman@ryder.com or
Joele Frank, Wilkinson Brimmer Katcher Matthew Sherman / Dan Moore
212-355-4449
Investor Relations: Bob Brunn (305) 500-4053
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