Ryder System (R) Confirms $86/Share Offer from HG Vora, to Review

May 13, 2022 1:27 PM EDT

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Ryder System, Inc. (NYSE: R), confirmed that it has received an unsolicited indication of interest from HG Vora Capital Management, LLC to acquire all of the outstanding shares of Ryder not currently owned by HG Vora for $86.00 per share in cash.

Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Ryder Board of Directors will carefully review and evaluate the indication of interest to determine the course of action that it believes is in the best interest of the Company and its shareholders.

Morgan Stanley & Co. is acting as financial advisor and Wachtell, Lipton, Rosen & Katz is acting as legal advisor to Ryder.



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