Omni Logistics

Forward Air reported its best quarterly performance since its early 2024 acquisition of Omni Logistics.

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.”

Forward Air said it is “nearing the conclusion” of a strategic review, which investors called for following the company’s controversial merger with Omni Logistics.

Forward Air’s stock fell sharply on Monday following a report that it hasn’t yet received a satisfactory takeover offer.

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.

Forward Air announced the departure of three board members following a push from activist investor Ancora Holdings Group.

Activist investor Ancora Holdings Group is asking Forward Air’s shareholders to vote against three board members at the upcoming annual meeting.

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 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.