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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Of the mountain of information stuffed into the University of Tennessee’s annual economic forecast released on Thursday, one the most important sections — and probably most overlooked — is a chapter on the state’s transportation network.
This special section offers Gov. Bill Haslam and his new administration a detailed primer on the state’s transportation infrastructure — road, rail, river and air — and its importance to the state economy.
Building and maintaining a robust transportation system is one of the most important services government provides. Virtually every aspect of the economy depends on transportation.
The UT report prepared by the Center for Business and Economic Research lays out the transportation challenges facing Tennessee and asks several provocative questions: