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 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.
清桥投资有限责任公司 致函董事长兼首席执行官和首席独立董事 前进航空公司 纳斯达克股票代码：FWRD）敦促该公司董事会重新考虑其最近宣布的收购Omni Logistics的意图。
ClearBridge Investments, a wholly-owned subsidiary of Franklin Resources, has been a sizable shareholder in Forward Air since 2018.
富兰克林资源的全资子公司ClearBridge Investments自2018年以来一直是Forward Air的大量股东。
It said it was surprised and alarmed by the recent announcement to acquire Omni Logistics for the stated enterprise value of $3.2 billion.
该公司表示，它对最近宣布以32亿美元的企业价值收购Omni Logistics感到惊讶和震惊。
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，收购Omni将总财务杠杆率提高到落后于调整后息税折旧摊销前利润的四倍左右，这是一个令人不安的水平，尤其是在更高的利率环境中。
It also argued about the unclear industrial logic of combining a specialized LTL trucker with a freight forwarder.
它还争辩说，将专业的零担卡车司机与货运代理合并在一起的工业逻辑不明确。
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，这笔交易的协同效应并不能证明这笔交易的估值、规模和复杂性是合理的。
Price Action: FWRD shares are trading higher by 2.20% at $66 in premarket on the last check Monday.
价格走势: 在周一的最后一张支票中，FWRD股价在盘前交易中上涨2.20％，至66美元。
Image: Pixabay
图片：Pixabay