Forward Air’s stock was off more than 40% on Friday after it said it may lose a large customer and that a take-private bid for its entire enterprise had failed to materialize.
Shares of Forward Air moved sharply lower on Wednesday after a stock market news site reported a full-company sale is “unlikely.”
Management at Forward Air announced on Wednesday, in conjunction with its quarterly report, that a strategic review, which could include the sale of the company, remains ongoing.
Forward Air’s stock fell sharply on Monday following a report that it hasn’t yet received a satisfactory takeover offer.
A second round of buyout bids for Forward Air are due next month, according to an M&A blog.
Several private equity firms have submitted bids to acquire Forward Air, according to a Reuters report.
Forward Air announced the departure of three board members following a push from activist investor Ancora Holdings Group.
Activist investor Ancora said an independent proxy adviser is backing its plea to Forward Air shareholders to vote against three legacy directors who served during the ill-conceived Omni Logistics acquisition.
Activist investor Ancora is doubling down on efforts at Forward Air to shake up the board and force the company to sell.
Forward Air’s first-quarter update provides investors with little insight into an ongoing strategic review of the company.
Activist investor Ancora Holdings Group is asking Forward Air’s shareholders to vote against three board members at the upcoming annual meeting.
Forward Air is seeking shareholder approval to reincorporate in Delaware, where it may be easier to sell the company or seek other strategic alternatives.
Forward Air on Monday updated its first-quarter expectations for a second time.
Forward Air said Wednesday that 10% to 15% of last year’s revenue would have been impacted by the new tariffs.
Forward Air has largely finished the integration of Omni Logistics and now needs a much-improved demand environment to return margins to former levels and pay down debt.
Forward Air announced Monday its board of directors has embarked on a review of strategic alternatives.
Forward Air announced after the market closed Friday the termination “without cause” of its president and chief operating officer.
Forward Air continues to refresh its leadership team, hiring a new chief commercial officer on Wednesday.
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.
