Activist investor Ancora Holdings Group is calling on Forward Air’s board to begin a strategic review and to engage with potential buyers. In an open letter to the company’s board, the group cited “overwhelmingly negative” total shareholder returns and “significant underperformance” in what it described as a “lost decade” for the expedited trucking company.
The Tuesday letter said the company could better cure its balance sheet and operational issues as a private entity, likely under the...
https://www.freightwaves.com/news/activist-investor-urges-forward-air-to-go-private