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Activist investor Ancora says Forward Air should consider sale following 'lost decade'

Tue, 20 Aug 2024 09:33:43 -0400

In an open letter to Forward Air Corporation's (NASDAQ: FWRD) Board, activist investor Ancora Holdings Group urged the company to consider a sale, citing a "lost decade" of poor financial performance and shareholder returns.

In the letter to Forward Air, Ancora, which is a top ten shareholder of the company with a 4% stake, emphasized the need for a strategic review, highlighting the company’s recent struggles, particularly following the debt-funded acquisition of Omni Logistics.

"The company’s reversion to old habits and its debt-funded acquisition of Omni Logistics, LLC (“Omni”) have wiped out a tremendous amount of shareholder value," said Ancora.

Elsewhere, Ancora

Activist investor Ancora says Forward Air should consider sale following 'lost decade'

Tue, 20 Aug 2024 09:33:43 -0400

"The company’s reversion to old habits and its debt-funded acquisition of Omni Logistics, LLC (“Omni”) have wiped out a tremendous amount of shareholder value," said Ancora.

Elsewhere, Ancora

Activist investor Ancora says Forward Air should consider sale following 'lost decade'

Tue, 20 Aug 2024 09:33:43 -0400

"The company’s reversion to old habits and its debt-funded acquisition of Omni Logistics, LLC (“Omni”) have wiped out a tremendous amount of shareholder value," said Ancora.

Elsewhere, Ancora

Activist investor Ancora says Forward Air should consider sale following 'lost decade'

Tue, 20 Aug 2024 09:33:43 -0400

"The company’s reversion to old habits and its debt-funded acquisition of Omni Logistics, LLC (“Omni”) have wiped out a tremendous amount of shareholder value," said Ancora.

Elsewhere, Ancora