Forward Air Corp. (FWRD) has released an update to notify the public and investors about an entry into a material definitive agreement.
Forward Air Corporation, Omni Newco, LLC, and other parties have settled all litigation claims related to a merger agreement, resulting in an amendment to said agreement. The amendment details revised acquisition terms for Omni by Forward, including cash and equity considerations, with provisions for changing the terms under specific conditions, such as court orders or regulatory restraints. The amendment allows for termination of the agreement if the closing doesn’t occur by June 30, 2024, and maintains the original agreement’s terms with the exceptions stated in the amendment.
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