FedEx, Foward Air looking to buy competitors?

With cash on hand and the economy growing again, a pair of Tennessee trucking companies are on the prowl for competitors they can buy, according to a recent Reuters report.

Memphis-based FedEx and Greeneville-based Forward Air are among a handful of logistics companies cited in the report as looking for growth through acquisition.

“I think we are going to see a very active consolidation wave over the next 24-36 months,” Tom Connolly, managing partner at investment banking firm Eve Partners, told Reuters.

If the consolidation speculation is right, it will boost the companies’ stock, the report says.

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