In the latest episode of "The FreightCaviar Podcast", we sit down with Grace Maher and Jonathan McCormack of OTR Solutions. They shared their take on the current freight market, freight fraud, and talked about OTR's new platform for carriers.
AI agents are loud. Levity’s automation gets things done. Learn why freight ops need workflows, not hype.
Plus, Landstar delays Q1 earnings report due to massive fraud hit, witness tied to truck crash scheme murdered, UPS to cut 20K jobs amid Amazon pullback, and more.
Forward Air Corp. and Omni Logistics combine forces in a definitive cash-and-stock merger transaction set to close this year.
On Aug. 10, Forward Air Corp. and Omni Logistics announced their intention to merge in a cash-and-stock deal. The combined entity aims to form a scaled enterprise focused on high-value less-than-truckload (LTL) services. Both companies' boards have approved, and the merger is slated to close later this year. Forward’s CEO, Tom Schmitt, will remain the chairman and CEO of the combined company, while Omni’s CEO, J.J. Schickel, will serve as president. The merger seeks to leverage the combined strengths of both companies to offer high-value freight and expanded services to clients.
Omni Logistics is set to merge with Forward Air Corporation, a publicly traded provider of asset-light transportation services, in a combination set to create a $3.7 billion entity. https://t.co/xYqhhgV1zO
— Business Journals (@bizjournals) August 10, 2023
Saia shares have had an incredibly challenging past week, dropping 33% after missing earnings, down $117 from its high at $354.15, now trading at $237.95.
The European unit could potentially fetch around $2 billion, based on industry estimates.
GLS Group divests US freight divisions to DC Logistics, focusing on parcel services. Deal closes Sept. 1, 2024. DC aims for top 20 LTL carrier status.
Here are the latest trends in LTL and how they could impact your business.
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