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Schneider begins trading, driver to ring opening bell

GREEN BAY, WI – Schneider, one of North America’s largest for-hire fleets, begins trading on the New York Stock Exchange today under the ticker symbol SNDR.

Driver Bob Wyatt, who has been with the company for 44 years and logged more than 5 million accident-free miles, earned the honor of ringing the ceremonial bell that marks the opening of the day’s trading on the stock exchange.

The opening price will be US$19 per share.

The shift to a publicly traded company allows Schneider "to continue its commitment to Wisconsin and the communities in which we live and operate, while maintaining and enabling further investments in our long-term positioning,” says Chris Lofgren, Chief Executive Officer. “The Schneider family, management team and board of directors are aligned that this is in the best interests of our company and its associates, customers and shareholders.”

Schneider has more than 11,000 company drivers and been in business for more than 82 years. And employees will be celebrating today’s event in company offices, warehouse, maintenance and operating center locations.

Morgan Stanley, UBS Investment Bank and BofA Merrill Lynch are acting as active joint book-running managers of the proposed offering; Citigroup, Credit Suisse, J.P. Morgan and Wells Fargo Securities are acting as passive joint book-running managers; and Baird and Wolfe Capital Markets and Advisory are acting as co-managers.

Source of article click here : Today's Trucking

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