ClearBridge Investments Objects To Forward Air's $3.2B Omni Logistics Acquisition
ClearBridge Investments Objects To Forward Air's $3.2B Omni Logistics Acquisition
ClearBridge said Omni acquisition elevates gross financial leverage to about four times trailing adjusted ClearBridge Investments LLC sent a letter to the Chairman and Chief Executive Officer and the lead independent director of Forward Air Corporation (NASDAQ:FWRD) urging the company's board to reconsider its recently announced intention to buy Omni Logistics.
清橋投資有限責任公司 致函董事長兼首席執行官和首席獨立董事 前進航空公司 納斯達克股票代碼：FWRD）敦促該公司董事會重新考慮其最近宣佈的收購Omni Logistics的意圖。
ClearBridge Investments, a wholly-owned subsidiary of Franklin Resources, has been a sizable shareholder in Forward Air since 2018.
富蘭克林資源的全資子公司ClearBridge Investments自2018年以來一直是Forward Air的大量股東。
It said it was surprised and alarmed by the recent announcement to acquire Omni Logistics for the stated enterprise value of $3.2 billion.
該公司表示，它對最近宣佈以32億美元的企業價值收購Omni Logistics感到驚訝和震驚。
ClearBridge said Omni acquisition elevates gross financial leverage to about four times trailing adjusted EBITDA, an uncomfortable level, particularly in a higher interest rate environment.
ClearBridge表示，收購Omni將總財務槓桿率提高到落後於調整後息稅折舊攤銷前利潤的四倍左右，這是一個令人不安的水平，尤其是在更高的利率環境中。
It also argued about the unclear industrial logic of combining a specialized LTL trucker with a freight forwarder.
它還爭辯說，將專業的零擔卡車司機與貨運代理合併在一起的工業邏輯不明確。
The deal synergies do not justify the valuation, size, and complexity of this transaction, said ClearBridge in the letter.
ClearBridge在信中表示，這筆交易的協同效應並不能證明這筆交易的估值、規模和複雜性是合理的。
Price Action: FWRD shares are trading higher by 2.20% at $66 in premarket on the last check Monday.
價格走勢: 在週一的最後一張支票中，FWRD股價在盤前交易中上漲2.20％，至66美元。
Image: Pixabay
圖片：Pixabay
