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.
