Forward Air Secures Agreement to Retain Majority Share of $250M Account
Forward Air has reached an agreement with one of its largest customers that will allow it to retain at least 50% and potentially up to 75% of a $250 million account. The deal, which keeps the current contract in place for two years, follows earlier concerns from investors after shares dropped over 40%. Forward is also planning to sell its intermodal unit and two smaller legacy Omni businesses.
Tickers: $FWRD
Topics: business restructuring contract retention intermodal unit sale