Ancora Holdings is pressing Forward Air to launch a strategic review and consider a sale, and is warning that a board challenge might follow if investors’ calls for action are ignored, Reuters’ Svea Herbst-Bayliss reports. Ancora, which owns a 4% stake in Foward, said in a letter to the board seen by Reuters, that Forward would be better able to improve operations, fix the balance sheet and serve customers as a private company. “We believe the Board must evaluate any and all alternatives that exist today,” Ancora wrote.
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