The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight insights gained from Full Truck Alliance’s looming IPO, Knight-Swift’s latest acquisition and more.
The High Five
1. With China’s Full Truck Alliance moving toward an initial public offering in U.S. equity markets, its prospectus is giving potential investors, competitors and potential customers a look into the online logistics’ platform’s finances and business operations. John Kingston’s story
2. Navistar International Corp. is paying $50 million to settle claims that it overcharged the U.S. Marines for suspension systems on armored vehicles, clearing another issue ahead of its merger with Volkswagen AG’s TRATON Group. Alan Adler with more
3. Knight-Swift Transportation has acquired third-party logistics provider UTXL in a $22.5 million transaction. As a licensed broker for more than 20 years, UTXL specializes in full truckload, multistop, expedited and less-than-truckload shipments throughout North America. Todd Maiden’s report
4. The Surface Transportation Board has asked the Class I railroads through a series of recent letters to keep in close touch with regulators as the U.S. economy recovers, fall peak approaches, and port congestion and limited chassis availability clog the supply chain. Joanna Marsh’s story
5. CtW Investment Group has written a letter to DoorDash shareholders asking them to reject the reelection of Tony Xu to the DoorDash board of directors. Xu is the co-founder, chairman and CEO of DoorDash and the only board member up for reelection during the company’s upcoming shareholder meeting.Brian Straight’s Modern Shipper story
Five more to check out
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CTA asks for en banc hearing as it seeks to keep AB 5 out of California’s trucking sector