Con-way offering 4.3 million common shares to raise funds for operations, capital spending
By APThursday, May 13, 2010
Con-way to sell 4.3 million shares of stock
SAN MATEO, Calif. — Trucking company Con-way Inc. on Wednesday said it will sell 4.3 million shares of common stock.
The company plans to grant the underwriters a 30-day option to purchase up to 645,000 additional shares to cover any over-allotments.
Net proceeds will be used for general corporate purposes including working capital requirements and capital spending.
Morgan Stanley & Co. Inc. and Goldman, Sachs & Co. are the joint underwriters for the offering.
Con-way shares closed up 62 cents at $38.16.
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