Comment / Forward Air stretches in $3.2bn Omni Logistics 'leap-of-faith' merger

ID 112668717 © Michal Bednarek | 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 ...