ClearBridge Investments Objects To Forward Air's $3.2B Omni Logistics Acquisition
Portfolio Pulse from Shivani Kumaresan
ClearBridge Investments LLC, a subsidiary of Franklin Resources, has objected to Forward Air Corporation's (NASDAQ:FWRD) intention to acquire Omni Logistics for $3.2 billion. ClearBridge, a significant shareholder in Forward Air since 2018, expressed concerns about the financial leverage and the unclear industrial logic of the deal. Despite this, FWRD shares are trading higher by 2.20%.
August 21, 2023 | 2:46 pm
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Despite ClearBridge's objections to Forward Air's acquisition of Omni Logistics, FWRD shares are trading higher.
ClearBridge's objections to the acquisition could potentially create uncertainty among investors. However, the rise in FWRD's share price indicates that the market is currently reacting positively to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100