Forward Air To Combine With Omni Logistics, Boosting LTL Business
Portfolio Pulse from Lekha Gupta
Forward Air Corporation (NASDAQ:FWRD) has announced its decision to merge with Omni Logistics, LLC in a cash-and-stock transaction. The combined company is expected to generate adjusted revenue of around $3.7 billion for the twelve months ended June 30, 2023. Omni shareholders will receive $150 million in cash and Forward's common and preferred stock. The transaction is expected to close in the second half of 2023, after which Omni shareholders will own 37.7% of the combined company. The merger is expected to generate total run-rate EBITDA synergies of approximately $125 million.
August 10, 2023 | 4:09 pm
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Forward Air Corporation is merging with Omni Logistics, which is expected to boost its revenue and generate significant EBITDA synergies. However, the company's shares are currently trading lower.
The merger with Omni Logistics is a significant event for Forward Air Corporation, which is expected to boost its revenue and generate EBITDA synergies. However, the company's shares are currently trading lower, indicating that the market may have mixed feelings about the deal.
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