In a recent development, Omni Logistics, a prominent technology-driven provider of global multimodal logistics solutions and specialized services, has issued a response to the press release issued by Forward Air Corporation concerning the ongoing transaction between the two companies.
Omni Logistics unequivocally refutes the claims made in Forward Air’s Counterclaim. According to Omni, the company has diligently adhered to all the necessary provisions outlined in the Agreement and Plan of Merger between Omni and Forward Air, which was initially dated August 10, 2023 (referred to as the “Merger Agreement”).
Throughout the merger process, Omni asserts that it has consistently collaborated with Forward Air in a cooperative and constructive manner, with the clear goal of finalizing the merger deal. Any allegations by Forward Air that suggest otherwise are described as devoid of merit.
Omni Logistics maintains a firm belief in the legal binding nature of the Merger Agreement and is determined to uphold the terms of the agreement to bring the transaction to a close as swiftly as possible.
Furthermore, Omni Logistics highlights the absence of any rebuttal from Forward Air concerning the strategic rationale behind the proposed merger. Every delay in Forward Air fulfilling its legally binding obligations, as per the terms of the Merger Agreement, is said to result in significant costs, ultimately affecting the shareholders of the company.
The dispute surrounding the merger continues to unfold, and both Omni Logistics and Forward Air remain engaged in this process, with significant implications for the future of these two logistics companies.
image credit: Omni Logistics