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Top related persons:
PAUL - 1 — - 1 Air’s - 1 Dakota Smith - 1
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Dallas
Top related orgs:
Omni Logistics - 2 Forward - 1 Forward Air - 1 Delaware - 1 Omni - 1

Search resuls for: "Omni Logistics"


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☆ The Musk Versus Twitter of Trucking Mergers
  + stars: | 2023-11-01 | by ( Jon Sindreu | ) www.wsj.com   time to read: 1 min
Forward Air agreed to buy freight forwarder Omni Logistics. PAUL PAGE/THE WALL STREET JOURNALIn most children’s games, there are no takesies-backsies. A similar principle seems to apply when a company signs a pretty ironclad contract to buy another. Late on Tuesday, Dallas-based freight forwarder Omni Logistics said that it had filed a lawsuit against trucking company Forward Air asking for the Delaware Court of Chancery to enforce the merger agreement that both companies signed back in August. This follows a statement last week in which Forward said it might terminate the controversial acquisition, arguing that Omni—which happens to be one of its trusted suppliers—had failed to comply with merger obligations.
Persons: PAUL, — Organizations: Forward, Omni Logistics, Forward Air, Delaware, Omni Locations: Dallas
☆ Forward Air Says It May Drop Proposed Omni Takeover
  + stars: | 2023-10-26 | by ( Robb M. Stewart | ) www.wsj.com   time to read: 1 min
Forward Air’s planned purchase of Omni Logistics has drawn sharp pushback, including a lawsuit by some shareholders. Photo: Dakota Smith/AlamyForward Air ’s shares rallied Thursday after the trucking company said it might drop a proposed acquisition of freight forwarder Omni Logistics. The stock jumped 13% in premarket trading after ending the previous session at $72.99, down 30% so far this year. Shares were trading up 2.1% later Thursday, at $74.54. Forward Air’s planned $3.2 billion purchase of Omni Logistics has drawn sharp pushback, including a lawsuit by some shareholders and an effort by activist investor Ancora Alternatives to replace the expedited trucker’s leadership and halt the merger of the businesses.
Persons: Air’s, Dakota Smith Organizations: Omni Logistics
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