Ancora Issues Letter To Forward Air's Board Of Directors Regarding Need To Initiate Strategic Review Based On Acquirer Interest
Portfolio Pulse from Benzinga Newsdesk
Ancora has issued a letter to Forward Air's Board of Directors urging a strategic review due to acquirer interest. Ancora believes a sale could offer significant premiums and address the company's underperformance and balance sheet issues.
August 20, 2024 | 1:05 pm
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Ancora is pushing Forward Air to consider a sale due to interest from potential buyers. This move is expected to address the company's long-term underperformance and balance sheet issues, potentially offering shareholders a premium.
Ancora's letter suggests that Forward Air's current market performance is lacking, and a sale could provide a premium over current share prices. This indicates a positive short-term impact on FWRD's stock price as investors may anticipate a potential acquisition.
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IMPORTANCE 80
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