Ryder System (R) Stock: Why The Price Surged Over 18% Today

By Amit Chowdhry ● May 13, 2022
  • The stock price of Ryder System, Inc. (NYSE: R) surged over 18% during intraday trading today. This is why.

The stock price of Ryder System, Inc. (NYSE: R) surged over 18% during intraday trading today. Investors are responding positively to what was revealed in a regulatory filing. 

A 13-D filing revealed that Ryder System received an acquisition offer. The purchase price offer is $86 per share from HG Vora Capital Management. HG Vora Capital Management is a major shareholder in the company.

This bid represents a 24.8% premium to the 30-day trailing volume-weighted average price of the stock. And the premium implies an acquisition price of about $4.4 billion.

HG Vora held about 5.05 million shares in the company prior to the acquisition offer.

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