Activist Ancora joins investors’ calls for a strategic review at Forward Air. Here’s what may happen next
Publishing timestamp: 2024-09-07 09:06:20
Summary
Ancora, an activist investor, has a history with Forward Air and is now pushing for the company to hire advisors and sell itself. The company recently made a controversial acquisition, causing its stock price to plummet. Other investors, including Clearlake Capital and Irenic Capital, are also calling for a strategic review and potential sale of Forward Air. The company's large debt load may be a roadblock to a private equity acquisition.
Sentiment: MIXED
Tickers: FWRD,
Keywords: forward air corp, hedge funds, business news,