Swift’s Founder Buying Back Company

CEO Jerry Moyes, the founder of Swift Transportation Inc., is buying back his Phoenix-based trucking company in a $2.74 billion deal.

Moyes will control the third-largest trucking company in the nation. Last year, the company rejected a $1.6 billion bid.

Moyes’ buying group, which includes family members, will assume $332 million in debt. The deal is expected to close in the spring.