Ryder System Confirms Receipt Of $86.00/shr Buy-out Offer From HG Vora Capital

(RTTNews) - Ryder System Inc. (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.

Ryder noted that its board 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.

R closed Friday regular trading at $83.65 up $12.17 or 17.03%.