Comment / Investors circling Forward Air, patience runs out

ID 92759653 © Chotthanin Thitiakarakiat | Dreamstime.com

Investment company Ancora’s begging for mercy may finally have been heard, waking up to news that its stock in the beleaguered Forward Air had jumped 11% after reports that a handful of private equity firms were looking to buy it.

If agreed, the sale would come as music to the ears of the activist investor – which holds a 4% stake in Forward – after having watched the surface transportation operator haemorrhage value over the past 18 ...