ClearBridge Investments Sends Letter Urging Board Of Directors Of Forward Air Corporation To Reconsider Announced Intention To Acquire Omni Logistics
Portfolio Pulse from Happy Mohamed
ClearBridge Investments, a significant shareholder in Forward Air Corporation (NASDAQ:FWRD), has sent a letter to the company's board urging them to reconsider the planned acquisition of Omni Logistics. ClearBridge argues that the $3.2 billion acquisition is too large and complex, and would increase Forward Air's financial leverage to uncomfortable levels. The letter also criticizes the lack of shareholder approval for the deal, and suggests that the acquisition has led to a drop in Forward Air's stock price.
August 21, 2023 | 12:36 pm
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ClearBridge Investments, a major shareholder in Forward Air Corporation, has urged the company to reconsider its planned acquisition of Omni Logistics. The acquisition, valued at $3.2 billion, is seen as too large and complex, and has led to concerns over increased financial leverage and a drop in Forward Air's stock price.
The news directly pertains to Forward Air Corporation and its planned acquisition of Omni Logistics. ClearBridge Investments, a major shareholder, has expressed significant concerns over the size and complexity of the deal, as well as the lack of shareholder approval. These concerns, along with the potential for increased financial leverage, could negatively impact Forward Air's stock price in the short term.
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