Forward Air’s second quarter came in slightly ahead of analysts’ EBITDA expectations as investors await an update on a strategic review process that could result in the company changing hands.
Several private equity firms have submitted bids to acquire Forward Air, according to a Reuters report.
Nikola Corp. announced that it has hired ousted Forward Air CEO Tom Schmitt to lead its commercial efforts.
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 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.
