HUBG - Forward Air: Not Moving Forward As Forward Moves On With Omni
2024-02-01 09:00:28 ET
Summary
- Forward Air's acquisition of Omni Logistics has created uncertainty and raised concerns about the company's future amidst significant leverage taken on.
- Forward Air's stock price has dropped significantly since the announcement of the deal, making shares unattractive given the uncertainty.
- The revised deal terms for the acquisition have not provided sufficient comfort to investors, leading to further decline in the stock price.
Days before Christmas, I concluded that there were many and uncertain moving targets in the case of Forward Air ( FWRD ) . When Forward Air announced its intention to acquire Omni Logistics in August of last year, shares saw a huge plunge overnight, on the back of price and leverage concerns....
Forward Air: Not Moving Forward, As Forward Moves On With Omni