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Offerings: Con-way To Sell 4.3 Million Shares

May 13, 2010 (FinancialWire) — Con-way Inc. (NYSE: CNW) said that it has launched an underwritten public offering of 4.3 million shares of its common stock. In addition, the company plans to grant the underwriters a 30-day option to purchase up to 645,000 additional shares of its common stock to cover over-allotments, if any.

Morgan Stanley & Co. (NYSE: MS) and Goldman, Sachs & Co. (NYSE: GS) will serve as the joint bookrunning managers for the offering.

Con-way said it plans to use the net proceeds from the offering for general corporate purposes including, but not limited to, working capital requirements and capital expenditures.

California-based Con-way is a freight transportation and logistics services company whose primary operating companies include Con-way Freight, Con-way Truckload and Menlo Worldwide Logistics.

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