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Forward Air - The Story Continued
Without a doubt the Forward Air & Omni merger was the most interesting merger I have followed. Here's the TL;DR: Publicly-traded trucking company tries to acquire PE-backed freight forwarder. Deal is structured to circumvent a shareholder vote of the public trucking company. Deal is announced & shareholders of public trucking company sue to enjoin, demanding a vote. Injunction gets removed because the deal was [checks notes] structured to circumvent that same vote. Public company faces backlash, & tries to pull out. PE-backed freight forwarded says, 'nope'. Both parties end up in the Delaware…
The skinny
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