Forward Air lowered full-year earnings guidance on Monday and said it wouldn’t address press reports that it is up for sale following a messy merger.
After mounting pressure from some shareholders following an ill-fated merger, sources have confirmed to FreightWaves that Forward Air is working with investment bankers to sell the company.
Investment firm Alta Fox has joined some of Forward Air’s other investors that are calling on the expedited trucking company to consider a sale following its controversial acquisition of Omni Logistics.
Activist investor Ancora has called on Forward Air’s board to consider a sale of the company and to begin engaging with potential buyers.
Activist investor Clearlake Capital holds a 13.8% equity position in Forward Air and signaled it may look to make changes at the company.
Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.
Forward Air said Wednesday that interim Chief Financial Officer Jamie Pierson will assume that role on a permanent basis and that it has added James Faught as chief accounting officer.
Forward Air’s review of the first quarter shows the company has a little more breathing room to upcoming debt covenants.
Forward Air confirms it has implemented workforce reductions and other restructuring initiatives.
Industry expert Satish Jindel offers perspective on Forward Air’s controversial merger with Omni Logistics.
Forward Air’s shareholders approved the conversion of Omni’s nonvoting shares to voting common stock, giving the group 35% control of the combined entity.
An amended class action complaint from Forward Air’s shareholders has been filed in a Tennessee court.
Forward Air’s first quarter missed expectations, sending shares 30% lower in pre-market trading Thursday.
Forward Air has named Ceva’s Shawn Stewart as its new CEO.
Analysts didn’t get the level of detail they were hoping for Thursday during Forward Air’s first quarterly call since its messy merger with Omni Logistics.
Forward Air’s fourth-quarter results sent shares lower in after-hours trading on Wednesday as investors hope a Thursday call will provide financial targets following a controversial merger.
Thomas Schmitt, the Forward Air CEO who put together the deal with Omni Logistics trashed by investors, is leaving the company.
Forward Air provided an update on January trends but made no mention of December numbers or who is currently in charge of recently acquired Omni Logistics.
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J.J. Schickel, CEO of Omni Logistics, will not be in an executive role at the combined Forward Air-Omni company.
Forward Air announced Thursday that it has closed on a merger with Omni Logistics following months of litigation.
Forward Air announced Monday that its deal with Omni Logistics will close at a slightly reduced amount.
A Delaware court will determine if Forward Air is required to close on a merger with Omni Logistics, or if Omni breached the deal agreement as alleged.
Counsel for Omni Logistics claims Forward Air’s CEO withheld requested notes from board meetings discussing plans to avoid a merger between the companies.
A recent exchange of filings in a Delaware court shows Forward Air and Omni Logistics are at odds over Omni’s 2023 financial forecasts, among other things.
An open letter from activist investor Ancora says the firm has come under attack following its public disapproval of Forward’s merger proposal with Omni Logistics.
Forward Air provided long-term financial targets on Tuesday and said the outcome of its bid for Omni Logistics may not be decided until next year.
Forward Air has filed a counterclaim against Omni Logistics and wants a Delaware court to rule it’s not obligated to move forward with the merger.
Omni Logistics is asking a Delaware court to make Forward Air close on a planned merger between the two companies.
Forward Air may decide to terminate its merger agreement with Omni Logistics even though a Tennessee court said it won’t stand in its way.
Activist investor Ancora said it will move to remove Forward Air’s board and CEO if a Tennessee court rules a shareholder vote on the Omi merger is warranted.
A Tennessee court will take more time mulling over a complaint from shareholders claiming they have the right to vote on Forward Air’s merger with Omni Logistics.
Forward Air’s planned merger with Omni Logistics hit a roadblock this week as a Tennessee court said it will decide next month if shareholders get a vote.
Two debt rating agencies, Fitch and S&P, rated Forward Air’s newly issued debt from its Omni deal and were mostly positive.
Forward Air defends its latest deal that will position it as a supplier and a competitor to its customers.
Forward’s plan to acquire a large forwarder has stakeholders concerned.
Forward Air announced Thursday it will merge with asset-light logistics peer Omni Logistics.
E-commerce is driving the need for flexibility among shippers, which are looking toward logistics providers to offer options.
