
Armchair Attorney® Podcast
The Armchair Attorney® Podcast is program hosted by the Armchair Attorney® himself, Matthew M. Leffler. Matthew is a real-life attorney with a curious mind and a passion for how things work. From law to supply chain and everything in-between, he bridges the gap between education and entertainment.
Armchair Attorney® Podcast
Forward Air - The Story Continued
Without a doubt the Forward Air & Omni merger was the most interesting merger I have followed.
Here's the TL;DR: Publicly-traded trucking company tries to acquire PE-backed freight forwarder. Deal is structured to circumvent a shareholder vote of the public trucking company. Deal is announced & shareholders of public trucking company sue to enjoin, demanding a vote. Injunction gets removed because the deal was [checks notes] structured to circumvent that same vote.
Public company faces backlash, & tries to pull out. PE-backed freight forwarded says, 'nope'. Both parties end up in the Delaware Chancery Court. Specific performance demanded. The deal is consummated right before trial. Senior leaders of both teams are out. Now PE owns a huge piece of public trucking company.
What should that company do? Go private? All signs point to... probably?
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