Comment / Forward Air + Omni Logistics – enter the lawyers

ID 192685287 © Freemanhan2011

Guess what?

The Forward Air + Omni Logistics merger is challenged.

Yesterday, 21 August, ClearBridge disclosed it has “sent a letter to the chairman and chief executive officer and the lead independent director of Forward Air Corporation (…) to urge Forward Air’s board of directors to reconsider its recently announced intention to acquire Omni Logistics” for $3.2bn in enterprise value.

The small shareholder, with its 4%-ish stake, will be diluted as part of the deal alongside a slew of others and so, unsurprisingly, ...