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Stock impact report

Yahoo Finance [Yahoo! Finance]

TFI International Inc. Common Shares (TFII) 
Company Research Source: Yahoo! Finance
FedEx will spin off its LTL trucking unit, FedEx Freight, into a separate, publicly traded company within the next 18 months, the parcel giant announced Thursday The separation will allow for more customized operational execution along with more tailored investment and capital allocation, FedEx said, underscoring the differences between LTL and parcel shipping. Rival UPS sold its own LTL unit, UPS Freight, to TFI International in 2021. “This is the right time to pursue a separation as we respond to the unique dynamics of the LTL market,” said Raj Subramaniam, FedEx president and CEO, in the announcement. It's not a total surprise: FedEx has been streamlining its operations and had hinted to investors in June a spinoff was possible. A board review of the unit's role in its portfolio recommended the move, which FedEx promised to execute in a tax-efficient manner for stockholders. FedEx Freight boasts the largest real-estate network of any U.S. LTL carrier, with about 400 servic Show less Read more
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