GREEN BAY, Wis. (Apr. 6, 2017) - Schneider, a premier provider of trucking, intermodal and logistics services, announced today that its Class B common stock will begin trading on the New York Stock Exchange this morning, under the ticker symbol "SüdR," following the previously announced pricing of its initial public offering yesterday.
The objectives of the transaction are to facilitate continuity of controlling ownership of the company by the future generations of the Schneider family, while continuing forward with its long-standing, independent and professional corporate governance structure.
"This allows the company 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 Schneider CEO Chris Lofgren. "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 driver Bob Wyatt, who has been with the company for 44 years and has logged over 5 million miles without an accident, was an easy choice for the prestigious honor of ringing the bell to open the day's trading at the Exchange.
"Bob is the epitome of Schneider and our culture - the standard for all professional, safety-focused drivers," said Lofgren. "From day one of planning, we wanted the honor of ringing the opening bell to be a representative of the hard-working associates that provide the difference for our customers. I believe Don Schneider would be proud seeing Bob at the podium representing the company that he entrusted us with to carry out his vision and leadership."
The most tenured current associate in Schneider's fleet of over 11,000 company drivers, Wyatt was joined on the podium to celebrate this momentous moment in the company's 82-year history by members of Schneider's leadership team and the Schneider family.
Schneider associates will join in the celebration today at the company's office, warehouse, maintenance and operating center locations throughout North America.
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.
The offering is being made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained from: Morgan Stanley & Co. LLC, 180 Varick St., Second Floor, New York, New York 10014, Attention: Prospectus Department; UBS Securities LLC, 1285 Avenue of the Americas, New York, New York 10019, Attention: Prospectus Department, or by telephone at (888) 827-7275; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College St., Third Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or by email at email@example.com.
A registration statement on Form S-1 relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission ("SEC"). This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Company is a leading transportation and logistics services company providing a broad portfolio of premier truckload, intermodal and logistics solutions and operating one of the largest for-hire trucking fleets in North America.
Source: Schneider SüdR
More Info: http://www.schneider.com