Norfolk Southern's COO quit mid-merger – nobody's asking the right question
Leadership bench optimized for integration, but if the deal falls apart…
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© Michal Bednarek
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Dreamstime.com
With its activist investor background, it was always a matter of time before $2.7bn-market-cap Forward Air Corp (Forward) from Greeneville, Tennessee, surprised the market with serious headline-grabbing stuff.
And, oh boy, yesterday’s announcement certainly gets the ’shaking tree’ M&A award as only earlier this month, the land and logistics forwarder had highlighted Q2 23’s “challenging market conditions in intermodal and truckload brokerage”.
Punished by investors, the stock of the asset-light T&L player fell -5.4% to $104 on the news in a flattish ...
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