Activist investor Ancora Holdings Group joined the fray Tuesday, voicing opposition to Forward Air’s planned merger with Omni Logistics.
The firm said the deal is too expensive, adds a significant amount of leverage and was “intentionally structured to avoid a pre-closing shareholder vote,” in an appearance at 13D Monitor Active-Passive Summit in New York City.
An announced deal price of $3.2 billion includes only $150 million in cash, requiring Forward (NASDAQ: FWRD) to fund the remainder of the...
https://www.freightwaves.com/news/activist-investor-looks-to-unseat-forward-air-board-ceo