Forward Air’s shareholders are enraged after the boss agreed to a merger that forces them to vote for their own dilution. Executives have snapped up $2.3 million in shares to show their faith in the deal.
Forward Air’s shareholders are enraged after the boss agreed to a merger that forces them to vote for their own dilutionShares in trucking company Forward Air are down 40% in value following the announcement of a merger with Omni Logistics. PHOTO: DAKOTA SMITH/ALAMY
It isn’t often that relations between investors and a company get so strained that the stock falls almost 40%. But using financial engineering to deny shareholders a vote in a huge, controversial merger that dilutes their stake will do the trick.Continue reading your article with
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